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Trump's tariff terrorises Sri Lanka
Daily FT
|April 04, 2025
S 3 b of exports to Sri Lanka's largest market under threat due to high 44% new reciprocal tariff decided by US President Donald Trump from April 9.
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Sri Lanka figures among top 3 countries with highest reciprocal tariffs most impacted in South Asia
Major blow for apparel and textiles, rubber and industrial products, agriculture and food; and logistics and shipping
Colombo stock market dips by over 2% as investors react negatively to Trump's tariff move
US President Donald Trump's tariff decision on Sri Lankan products yesterday terrorised the country's private sector and analysts who issued severe warnings prompting the Government to take immediate action.
On 2 April, Trump announced a minimum of 10% reciprocal tariff on all imports to the USA effective from 9 April and these new reciprocal tariffs are set to be implemented in addition to the tariffs already signed by Donald Trump in 2018 and 2020.
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