ECONOMYNEXT – Sri Lanka is expecting to initiate prompt discussions with the United States to gain relief from 44 percent tariffs imposed by President Donald Trump on exports from the Indian Ocean island.
President Anura Kumara Dissanayake appointed a committee to review the tariff and recommend measures.
“A discussion was held at the Presidential Secretariat between President Anura Kumara Disanayake and the Committee appointed to submit recommendations on the new U.S. tariff system,” a statement from the President’s media office said.
“During the meeting, the Committee’s proposals concerning the country’s strategic response to the imposition of these new tariffs, as well as the next steps that should be taken was reviewed in detail.
“Furthermore, the Sri Lankan government is expected to initiate prompt discussions with the U.S. government regarding possible relief measures.”
Sri Lanka is protectionist with large taxes imposed to support a few politically connected businesses and farmers, pushing up domestic costs and making the country non – export competitive.
Related
Sri Lanka eyes tariff talks as Trump to consider ‘phenomenal’ offers
Trump making 300-year old mistake in raising tariffs : Sri Lanka economist
Explainer: What Trump’s 44-pct reciprocal tariff means for Sri Lanka
A 20 percent Trump style tax was imposed on imported in 2025, which could result in taxes lost to domestic assemblers.
The Committee is represented by Senior Economic Advisor to the President Duminda Hulangamuwa; Secretary to the Ministry of Finance Mahinda Siriwardana; Governor of the Central Bank Nandalal Weerasinghe; Secretary to the Ministry of Trade A. Vimalaneththiraja.
Chairman of the Export Development Board Mangala Wijesinghe; Senior Director General (Bilateral) of the Ministry of Foreign Affairs, Dharshana M. Perera are also on the committee.
Chief Economic Policy Advisor at the Ceylon Chamber of Commerce Shiran Fernando; Group CEO of Brandix Ashroff Omar; Co-Founder of MAS Holdings Sharad Amalean; Chairman of the Heyleys Group Mohan Pandithage and Ananda Caldera make up the rest of the committee. (Colombo/Apr05/2025)
