Trump Tariffs Threaten Sri Lanka: Urgent US Talks to Save Jobs
Sri Lanka’s delegation heads to Washington to negotiate a tariff cut before the August 1 deadline, aiming to protect jobs and economic recovery.
A Sri Lankan delegation is set to fly to Washington on July 18 for urgent talks to secure a better deal on US President Donald Trump’s looming tariffs, Foreign Minister Vijitha Herath announced Tuesday. The goal is to slash the proposed 30% US tariff on Sri Lankan goods, a reduction from the 44% imposed in April, which pales against Sri Lanka’s 88% tariff on US imports.
With the August 1 deadline approaching, pressure is mounting. Sri Lanka’s USD 3 billion export industry, primarily apparel, faces severe risks, threatening thousands of jobs and the nation’s fragile recovery from the 2022 economic crisis. In contrast, Sri Lanka imports just USD 300 million from the US, highlighting the trade imbalance.
Herath emphasized the delegation’s determination to negotiate favorable terms to counter the competitive edge Trump’s tariffs give to rivals like Bangladesh and Vietnam. Industry experts warn that failure to secure a reduction could devastate Sri Lanka’s economy, underscoring the high stakes of these talks.
Also Read: Pentagon Pulls 2,000 Troops from LA Amid Immigration Protests
Also Read: Trump’s Latest Tariff Plan Targets Africa, Caribbean, and MORE!
