Sri Lanka's Commitment to Collaborate with the US on Trade Tariffs

Sri Lanka's Trade Discussions with the US

Colombo: The government of Sri Lanka has indicated its willingness to collaborate with the United States regarding the newly imposed tariffs aimed at addressing the trade deficit, as stated by President Anura Kumara Dissanayake's office on Friday.

The Sri Lankan delegation emphasized their government's proactive approach to partner with the US in efforts to diminish the trade deficit and reduce both tariff and non-tariff barriers.

This dialogue took place during a meeting with US Trade Representative Ambassador Jamieson Greer on April 22 in Washington.

The delegation provided updates to Greer regarding the historical challenges faced by Sri Lanka and the measures being implemented to ensure future economic stability and recovery.

Sri Lanka's exports to the US are estimated at USD 3 billion, primarily consisting of apparel and rubber products.

The recent tariffs have resulted in a 44 percent tax on Sri Lankan exports, while the island nation imposes an 88 percent tax on US imports.

Experts have noted that these new tariff regulations could lead to a significant decrease in order volumes.