Sri Lankan Exporters Alarmed Over Proposed 30% US Tariff

Sri Lankan exporters have raised concerns over a proposed 30% tariff on the country's goods entering the US, warning it could severely affect key sectors including apparel and rubber products.

The Exporters Association of Sri Lanka (EASL) in a statement on Friday urged the government to intensify negotiations with the US before the August 1 deadline.

EASL acknowledged the efforts of Sri Lankan trade representatives but stressed the need for more urgency and determination, noting that competitor countries such as Vietnam and India faced lower tariffs of 20 and 26%, respectively.

Calling the proposed rate unsustainable, EASL said the higher tariff would place Sri Lankan exports at a disadvantage in the global market.

The association also urged authorities to explore new international markets and diversify export destinations to protect the economy from future external shocks