Trump targets trade with tough tariffs

SRI LANKA HIT WITH 44% TARIFFS ON EXPORTS TO THE US EFFECTIVE 9 APRIL

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The United States has imposed a 44 percent reciprocal tariff on Sri Lankan exports, sending policymakers into panic mode as they scramble to assess the impact and seek relief for the trade-dependent nation.

SRI LANKA AMONG U.S.' "BAD TRADING ACTORS" WITH A SIGNIFICANTLY UNFAVOURABLE TRADE DEFICIT

SRI LANKA EXPORTS US$ 3.0 BILLION WORTH OF GOODS TO THE U.S. WHILE IMPORTING ONLY US$ 500 MILLION WORTH OF GOODS FROM THEM

APPAREL IS HIT THE HARDEST, ACCOUNTING FOR UP TO 70 PERCENT OF TOTAL EXPORTS TO THE U.S

GOVERNMENT APPOINTS A COMMITTEE TO ASSESS THE IMPACT AND IS WILLING TO ENGAGE WITH THE TRUMP ADMINISTRATION TO SEEK RELIEF

As reported by Mirror Business yesterday, U.S. President Donald Trump announced a wave of tariffs, dubbed 'reciprocal tariffs', on all imports in trade partners deemed 'bad actors' with persistent trade surpluses with the U.S., while setting a 10 percent baseline tariff on all others.