BangladeshNews

China-US Trade War Causes Steel Prices to Soar in Bangladesh

The trade war between the US and China is causing steel prices in Bangladesh to soar.

Bangladesh relies on importing scrap metal from the  United States to make steel rod , which are the  backbone of the   buildings and other infrastructure. But they are becoming  more expensive  to build   because the input cost have been risen.

That is having a knock-on effect on the rest of the economy, with house prices skyrocketing and construction taking a hit.

The businessmen in country’s capitol Dhaka, the hub of the steel rod market, says business is bad. Some traders stop piling stocks bedding prices will rise when or if the trade war eventually ends.

President Trump’s tariffs are costing poor countries as well his own  and China.

There’s been a construction boom in Bangladesh for over the past  20 years, but the higher prices of construction materials  are threatening to   recent economic growth .

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