Trump's Tariffs On Almost All Trading Partners, Including Sri Lanka, Take Effect

COLOMBO (News 1st); The Ministry of Finance has announced that the United States will implement a revised 20% reciprocal tariff on Sri Lankan exports starting today (7).

The tariff adjustment follows months of diplomatic engagement between Sri Lankan officials and representatives from the Office of the United States Trade Representative (USTR). 

The original tariff rate of 44%, imposed on April 2 during an announcement by President Donald Trump at the White House Rose Garden, had raised concerns among Sri Lankan exporters and policymakers.

In response, the Sri Lankan government initiated a series of negotiations aimed at securing relief. 

These efforts led to an initial reduction of the tariff to 30%, with further rounds of discussion focused on achieving a more favorable rate.

According to the Finance Ministry, the latest outcome of these talks resulted in the U.S. agreeing to lower the tariff to 20%.