Sri Lanka-US Trade Talks: Tariff Tensions and Exporter Appeals

Sri Lankan exporters have voiced significant concerns over a proposed 30% tariff on the nation's goods entering the United States. President Anura Kumara Dissanayake reassures that negotiations are underway to secure the best possible concessions. The Exporters Association of Sri Lanka (EASL) has called for immediate action, urging the government to intensify discussions with the US prior to the August 1 deadline.

The EASL describes the proposed tariff rate as unsustainable, warning that it would place Sri Lankan exports at a marked disadvantage globally. In a recent meeting, President Dissanayake highlighted a successful reduction of the previous 44% reciprocal tariff rate to 30%, yet he maintains ongoing negotiations are crucial to seeking further concessions.

The EASL commended the efforts of Sri Lankan trade representatives but emphasized the necessity for accelerated actions. It was noted that countries like Vietnam and India face lower tariffs of 20% and 26% respectively. The association also encouraged exploring new international markets to mitigate economic impacts from future external shocks.

(With inputs from agencies.)