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Apparel industry faces shock as US imposes high tariffs
Daily FT
|April 04, 2025
JAAF Secretary General Yohan Lawrence says tariff level is 'extremely high' relative to regional competitors Asserts impact will be swift and severe
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Opines bulk of US business will migrate to competitor markets; volume of business simply cannot be replaced via other markets
States situation is serious, must be addressed as a matter of national urgency
Commends immediate actions taken by Govt. to discuss situation; engages with authorities on way forward
SRI Lanka's apparel industry is bracing for a severe economic shock following the US's announcement of steep new tariffs under its Reciprocal Tariff policy.
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