SRI LANKA TO PUSH US FOR MORE TRADE RELIEF POST-TARIFF DROP

Officials said Sri Lanka will meet representatives from the Office of the United States Trade Representative (USTR) in the coming weeks to advance negotiations.

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At a special media briefing convened to explain the implications of the tariff cut, Treasury Secretary Dr. Harshana Suriyapperuma pointed out the reduction was the sharpest granted among regional peers. This was possible he said, due to Sri Lanka's early and sustained engagement with Washington since the tariffs were first announced on April 2.

"The new tariff rate places Sri Lanka ahead of several regional competitors," he said, noting Bangladesh and Cambodia now face duties of 35 percent and 36 percent respectively. However, Sri Lanka's rate remains higher than the 20 percent imposed on Vietnam's direct exports, though Vietnamese transshipments are subject to a 40 percent tariff under a recent bilateral arrangement.