Private sector welcomes progress in US tariff talks

FIVE major industry bodies, The Ceylon Chamber of Commerce, the Joint Apparel Association Forum (JAAF), the Exporters Association of Sri Lanka (EASL), the Sri Lanka Association of Manufacturers and Exporters of Rubber Products (SLAMERP) and the Colombo Rubber Traders' Association (CRTA) have welcomed the drop in US tariffs on Sri Lankan goods from 30% to 20%.

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The Ceylon Chamber praised the outcome but said Sri Lanka should now aim for long-term trade deals that give exporters more stability. It also called for efforts to remove other trade barriers and to expand into new markets.

JAAF said the lower tariff helps keep Sri Lanka's clothing exports competitive with countries like Bangladesh and Vietnam. It credited the Government and diplomats for their efforts and said it would continue pushing for fair trade, better labour standards, and innovation in the industry.

The Exporters Association said the lower rate was a timely win for exporters and thanked the Government for its work. It urged the authorities to keep the talks going and look at other ways to support exports.The rubber industry group SLAMERP said the earlier 44% tariff would have badly hurt exporters and risked thousands of jobs. It welcomed the lower rate but asked the Government to also help locally, with tax relief and lower input costs to help the industry stay strong.

Their statements are reproduced as follows:

The importance of durable trade terms The Ceylon Chamber of Commerce commends the Government of Sri Lanka and the national negotiation team on the successful outcome of recent discussions with the United States, which led to a further reduction in the reciprocal tariff rate-from 30% to 20% -on Sri Lankan exports.

"While this is clear progress reflecting the value of sustained engagement and strategic diplomacy, it is now important to use this window of opportunity to work towards a longterm arrangement that ensures more stable and competitive market access for our exporters," stated Ceylon Chamber Chairman Krishan Balendra.

• We appreciate the efforts of the officials involved for their proactive and strategic efforts, particularly in engaging with the US Government and the Office of the United States Trade Representative (USTR) to secure this positive result.