President says US tariff cut achieved through talks, further reductions sought

President Anura Kumara Dissanayake stated that, as a result of recent discussions with the United States, the previously imposed reciprocal tariff rate on Sri Lanka was successfully reduced from 44% to 30%. 

He further emphasised that ongoing dialogue will continue in order to secure additional concessions.

The President stated that the objective of the government is to implement changes that will benefit the country’s economy, businesses, the business community and the well-being of its citizens.

The President made these remarks while participating in a discussion held this morning (12) at the Presidential Secretariat with all stakeholders in the export sector, according to the President’s Media Division (PMD). 

The meeting focused on the progress of discussions related to the new reciprocal tariff policy that the United States is expected to implement, the current situation and the economic challenges Sri Lanka may face in implementing this policy.

At this critical juncture, the discussion also highlighted the importance of identifying new market opportunities and the need for collaboration between the public and private sectors. The diversification of exports was recognised as a key opportunity to navigate the current challenges, the statement added.

The discussion was attended by Minister of Labour and Deputy Minister of Economic Development Dr. Anil Jayantha Fernando, Western Province Governor Hanif Yusoof, Central Bank Governor, Dr. P. Nandalal Weerasinghe, Secretary to the Ministry of Finance, Dr. Harshana Sooriyapperuma, Secretary to the Ministry of Trade, Commerce, Food Security and Cooperative Development K.A. K.A.Vimalenthirarajah, Senior Advisor to the President on Economic Affairs, Duminda Hulangamuwa,  Senior Advisor to the President on Digital Economy, Dr. Hans Wijesuriya, Chairman of the Sri Lanka Export Development Board, Mangala Wijesinghe, Chairman of the Board of Investment, Arjuna Herath,  Chairman of the International Chamber of Commerce Shanil Fernando, Chairman of the Tea Exporters Association Huzefa Akbarally, CEO of Brandix Group Ashroff Omar along with other representatives from institutions affiliated with the export sector.

--PMD--