ECONOMYNEXT – Sri Lanka has got a 20 percent tariff in an slew of revised rates announced by President Donald Trump through an executive order.
Sri Lanka’s rate is the same or similar to that of Bangladesh, Vietnam, Malaysia (19), Indonesia (19), Thailand (19), Pakistan (19), and lower than India (25).
Cambodia which has has seen an export boom after getting monetary stability dollarization had got 19.
A series of African nations and tiny island states have got 15.
Afghanistan had got 15.
“..[S}ome trading partners have agreed to, or are on the verge of agreeing to, meaningful trade and security commitments with the United States, thus signaling their sincere intentions to permanently remedy the trade barriers that have contributed to the national emergency declared in Executive Order 14257, and to align with the United States on economic and national security matters,” Trumps order said.
” Other trading partners, despite having engaged in negotiations, have offered terms that, in my judgment, do not sufficiently address imbalances in our trading relationship or have failed to align sufficiently with the United States on economic and national-security matters.
“There are also some trading partners that have failed to engage in negotiations with the United States or to take adequate steps to align sufficiently with the United States on economic and national security matters.”
Sri Lanka’s negotiating team led by Treasury Secretary Harshana Suriyapperuma had multiple discussions with the office of the US Trade Representative and President Anura Kumara Dissanayake also had an online discussion.
Read executive order on FURTHER MODIFYING THE RECIPROCAL TARIFF RATES here.
Brazil which has a trade surplus with the US was given 10 after various threats.
The full list is given below:
Countries and Territories Reciprocal Tariff, Adjusted
Afghanistan 15%
Algeria 30%
Angola 15%
Bangladesh 20%
Bolivia 15%
Bosnia and Herzegovina 30%
Botswana 15%
Brazil 10%
Brunei 25%
Cambodia 19%
Cameroon 15%
Chad 15%
Costa Rica 15%
Côte d`Ivoire 15%
Democratic Republic of the Congo 15%
Ecuador 15%
Equatorial Guinea 15%
European Union: Goods with Column 1 Duty Rate[1] bigger than 15% 0%
European Union: Goods with Column 1 Duty Rate lower than 15% 15% minus Column 1 Duty Rate
Falkland Islands 10%
Fiji 15%
Ghana 15%
Guyana 15%
Iceland 15%
India 25%
Indonesia 19%
Iraq 35%
Israel 15%
Japan 15%
Jordan 15%
Kazakhstan 25%
Laos 40%
Lesotho 15%
Libya 30%
Liechtenstein 15%
Madagascar 15%
Malawi 15%
Malaysia 19%
Mauritius 15%
Moldova 25%
Mozambique 15%
Myanmar (Burma) 40%
Namibia 15%
Nauru 15%
New Zealand 15%
Nicaragua 18%
Nigeria 15%
North Macedonia 15%
Norway 15%
Pakistan 19%
Papua New Guinea 15%
Philippines 19%
Serbia 35%
South Africa 30%
South Korea 15%
Sri Lanka 20%
Switzerland 39%
Syria 41%
Taiwan 20%
Thailand 19%
Trinidad and Tobago 15%
Tunisia 25%
Turkey 15%
Uganda 15%
United Kingdom 10%
Vanuatu 15%
Venezuela 15%
Vietnam 20%
Zambia 15%
Zimbabwe 15%
