INSUBCONTINENT EXCLUSIVE:
The Ministry of Finance has started continuous discussions focused on lowering the trade tariffs proposed to be enforced by the United
States on exports from Sri Lanka.Accordingly, a virtual meeting is scheduled to be held today (18 July) between Sri Lankan representatives
and authorities from the Office of the United States Trade Representative (USTR)
The conversation will be led by the Secretary to the Ministry of Finance, Dr
Harshana Suriyapperuma, in addition to other appropriate government officials.The main focus of the conference is to promote trade and
investment relations between the 2 countries.A statement released by the Ministry of Finance further elaborates: On April 3, U.S
President Donald Trump revealed the imposition of universal tariffs on items imported from countries all over the world
While the minimum rate was set at 10%, higher tariffs were applied to specific nations, with Sri Lanka at first dealing with a tariff of 44%
This policy was consulted with strong opposition globally, with China warning of countermeasures if the tariffs were not revoked
The European Union likewise promised unified opposition.In this context, the Sri Lankan government without delay started negotiations with
Trade Representative to look for revised arrangements
Sri Lanka stayed hopeful, and on July 12, the United States officially informed Sri Lanka of a new tariff proposition decreasing the rate to
It was subsequently agreed that Sri Lanka would continue discussions with the USTR to further minimize this rate.Accordingly, todays virtual
conversations will be chaired by the Secretary to the Ministry of Finance, with participation from appropriate authorities.
