Sri Lanka, U.S. Discuss Tariff Reforms In 2nd Round Of Talks

by Zulfick Farzan 29-05-2025 | 7:50 AM

COLOMBO (News 1st); A high-level discussion on U.S.-imposed tariff policies took place yesterday (28) in Washington, D.C., with the participation of a Sri Lankan delegation led by Deputy Minister of Finance and Economic Stabilization, Harshana Suriyapperuma.

The meeting was held at the invitation of the Office of the United States Trade Representative (USTR) and focused on strengthening bilateral trade relations between the two nations.

The dialogue is part of ongoing efforts to address tariff-related concerns and explore opportunities for deeper economic cooperation.

First Round Talks:

On 25th April, the President's Media Division said that Sri Lanka and the United States of America are expected to sign a trade agreement soon, following productive discussions in Washington, D.C.

The President's Media Division said that on April 22, 2025, a Sri Lankan delegation met with Jamieson Greer, the US Trade Representative, to hand over the original documents of the previously submitted documents, as directed by President and Finance Minister Anura Kumara Dissanayake.

During the meeting, the delegation briefed Ambassador Greer on the measures taken by the Sri Lankan government to address past challenges and prepare for future ones, aiming to fully restore the economy.

They highlighted Sri Lanka's commitment to reducing the trade deficit and minimizing both tariff and non-tariff barriers in collaboration with the US government.

According to the President's Media Division Ambassador Greer had appreciated Sri Lanka's proposals and expressed optimism about quickly reaching an agreement to ensure fair and impartial trade relations between the two countries.

US Tariffs On Sri Lanka:

On 2nd April, US President Donald Trump announced the imposition of sweeping tariffs on some of the country's largest trading partners.

President Trump highlighted that Sri Lanka imposes an 88% tariff on goods imported from the United States. In response, the executive decision stipulates that the United States will impose a 44% tariff on goods imported from Sri Lanka.

Days later, President Donald Trump announced a 90-day pause for countries hit by higher US tariffs.

Trump said he was authorising a universal "lowered reciprocal tariff of 10%" as negotiations continued.