INSUBCONTINENT EXCLUSIVE:
The United States has offered to accept 70 to 80% of items exported from Sri Lanka without enforcing any tariffs, Deputy Minister of
Economic Development (Prof.) Anil Jayantha Fernando stated.The deal has been made throughout on-going discussions in between Sri Lanka and
the United States following the choice by US President Donald Trump previously this year to enforce mutual tariffs on nations based on
existing trade deficits.Speaking throughout the Ada Derana Big Focus program held today (17 ), Deputy Minister Anil Jayantha Fernando
validated that the United States has offered Sri Lanka a list of 1,161 products for exports including garments and 42 products associated
with the Agricultural industry.The Deputy Minister of Economic Development stated that the details of the arrangement with the United States
can not be revealed yet, as discussions connected to tariff concessions have not been finalized.He added due to the technical nature and
diplomatic procedure, matters under discussion will not be made public at this juncture.Deputy Minister of Economic Development Anil
Jayantha Fernando said Sri Lanka is likewise in discussions on the possibility of securing 0% tariffs on imports from the US.He said, When
it concerns imports, currently products imported from the U.S
fall within a 0% to 20% tariff variety
So even if we a little lower the rates on a few of those items, it will not lead to a considerable loss of revenue for the federal
government, as we import just around USD 300 million worth from the U.S.Meanwhile, a delegation from Sri Lanka is scheduled to leave for the
United States tomorrow (18) to continue conversations on further lowering U.S
tariff rates.According to the recent announcement by the White House, goods exported to the United States from Sri Lanka will be subject to
a 30% tariff from August 1.
