President Barack Obama announced Thursday that the US will end trade privileges with Bangladesh over concerns for safety and working conditions in factories.
The US will suspend Bangladesh from the Generalized System of Preferences (GSP), which will increase tariffs on certain goods. The move, in response to recent garment factory disasters, will not directly affect the garment industry because they were not eligible for duty cuts under GSP.
The collapse of a Rana Plaza garment factory outside Dhaka on April 24 left over 1,100 people dead. A factory fire in November 2012 killed over 100 people.