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Trump settles for 30% tariff on Sri Lanka, down from 44% proposed earlier
Daily FT
|July 10, 2025
Some analysts welcome 30% rate for Sri Lanka as better than Laos, Myanmar, Cambodia, Thailand, Bangladesh and Indonesia Disappointment for others who were expecting 20% tariff Japan, Malaysia and Philippines charged lower tariff than SL Trump invites Sri Lanka to participate in “extraordinary economy of the United States” Says 30% is far less than what is needed to eliminate trade deficit disparity with US Warns if SL decides to raise tariff, then whatever number chosen will be added onto 30% that US will charge from 1 August Insists tariff slapped as necessary to correct many years of Sri Lanka's high tariff and non-tariff policies and barriers Claims unsustainable trade deficit with SL is major threat to US economy and national security Assures if SL eliminates tariff and other policies and barriers, US will consider further adjustment
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US President Donald Trump has settled for a 30% tariff on imports from Sri Lanka, down from 44% proposed in April.
He announced the move in a letter to President Anura Kumara Disanayake dated 9 July 2025.
Analysts welcomed the move, which is lower than the tariff slapped on Laos and Myanmar (40%), Cambodia, Thailand (36%), Bangladesh (35%), and Indonesia (32%). However, others described it as higher than what Sri Lanka was lobbying for, which was 20%.
Japan, Malaysia, and the Philippines have been slapped with a 25% tariff.
The US remains the largest export market for Sri Lanka, accounting for 27% ($ 3 billion) of the total manufactured exports ($ 12.8 billion) as of 2024-out of which textile and apparel exports accounted for 64% of the total exports to the US.
The reciprocal action by Trump was due to the trade imbalance of $2.6 billion in 2024 in favour of Sri Lanka as against the US.
Treasury Secretary Dr. Harshana Suriyapperuma earlier this week expressed hope that Sri Lanka could expect a favourable stance from the US on the looming reciprocal tariffs.
"We had several rounds of discussions with the US Trade Representative (USTR).
Dit verhaal komt uit de July 10, 2025-editie van Daily FT.
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