Plastics and Rubber Institute of Sri Lanka welcomes US tariff reduction on Sri Lankan exports
Daily FT
|August 04, 2025
THE Plastics and Rubber Institute of Sri Lanka (PRISL) has extended its appreciation for the recent decision by US President Donald Trump to reduce and finalise the tariff rate to 20% on Sri Lankan exports to the United States.
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This strategic policy move marks a pivotal milestone for Sri Lanka's manufacturing and export sectors, particularly the rubber and plastics industries, which have long been key contributors to the national economy.
This significant tariff reduction comes at a critical juncture as Sri Lanka continues its recovery from a severe economic downturn, still navigating through an International Monetary Fund (IMF) bailout program. The lowered tariff rate offers a much-needed boost to the country's export competitiveness, especially in light of the intense regional competition faced by Sri Lankan manufacturers in South and Southeast Asia.
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