CRTA calls for urgent action to safeguard jobs, export earnings amid US’s reciprocal tariffs

THE Colombo Rubber Traders’ Association (CRTA) yesterday expressed deep concern about the recent imposition of a 34% blanket tariff by the US on all imports from Sri Lanka, particularly its devastating impact on the country’s natural rubber industry.

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“As one of the country’s key export sectors, the natural rub-ber industry contributes sig-nificantly to both employment and foreign exchange earn-ings. Since the present tariff is 12.5%, the additional 34% will raise the total tariff to 56.5%, making Sri Lankan rubber exports highly uncompetitive in the US market. This is expected to have a far-reaching impact on rubber tappers, their families, and Sri Lanka’s broader economy.

To mitigate the negative effects of this tariff, the CRTA urges to take the following actions swiftly. This includes:

Immediate diplomat-ic engagement with US authorities:

The Government must engage with the US Government and relevant trade bodies to negotiate a significant reduction or removal of the 34% tariff.

Diversification of export markets:

The Government should encourage diversifi-cation of export markets for Sri Lankan natural rubber to reduce reliance on the US mar-ket.