Sri Lanka to Coordinate Relief Measures for Export Sectors Affected by U.S. Tariffs

COLOMBO (News 1st);The Board of Investment (BOI) of Sri Lanka has announced that necessary coordination efforts are underway to provide relief to export sectors likely to be affected by the recently imposed U.S. reciprocal tariffs.

BOI Chairman Arjuna Herath stated that these measures are being implemented under the guidance of President Anura Kumara Dissanayake.

Sri Lanka currently exports goods worth approximately USD 3 billion annually to the United States. 

Among the most affected sectors are apparel and rubber-based products, which represent the largest share of exports to the U.S.

Sri Lanka exports around USD 2 billion worth of apparel and USD 600–700 million worth of rubber products to the U.S. each year. 

Other key exports to the U.S. include coconut-based products and spices.

The BOI Chairman further noted that steps are being taken to improve cost efficiency, production capacity, and support infrastructure to help local industries remain competitive in the face of tariff challenges. 

The BOI is also offering guidance and facilitating coordination to ensure smooth implementation of these measures.

Meanwhile, the Sri Lanka Export Development Board (EDB) has launched a study to assess the potential impact of the U.S. tariffs on the country’s export sectors.

EDB Chairman Mangala Wijesinghe stated that the study will evaluate each export sector individually to gain a clear understanding of how the tariffs will affect them and what strategic interventions are needed.