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Govt. seeks urgent talks with US over 44% tariff on exports
Daily FT
|April 04, 2025
Economic Development Deputy Minister Prof. Anil Jayantha Fernando says move is not exclusive to SL, but broader global policy by Trump-administration Assures Govt. already held discussions, preparing to present its case to US authorities emphasising on economic recovery efforts, its ongoing IMF program Plans to explore alternative options like EU GSP+ if renegotiation fails
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THE Government yesterday announced plans to urgently negotiate with the US over the steep 44% tariff on Sri Lankan exports under its Reciprocal Tariff Policy, set to take effect on 9 April.
On 2 April US President Donald Trump announced the move which is part of a broader global trade policy introduced by US President Donald Trump which includes a 10% baseline tariff on all imports and higher rates for selected countries. Making a statement, Economic Development Deputy Minister Prof. Anil Jayantha Fernando acknowledged that while the Government was aware of the possibility of increased tariffs, it had waited for the official US policy before formulating a response.
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