Did Sri Lanka Just Win a Major Trade War Against the US?
Sri Lanka – The United States is set to lower its reciprocal tariff rate on Sri Lankan goods from an initial 44% to 30%, effective August 1, 2025. This move, following intense negotiations, significantly eases a potential blow to Sri Lanka’s export-driven economy, particularly its apparel and agricultural sectors.
While still a notable tariff, the reduction from the previously proposed 44% is a welcome relief. Furthermore, advanced discussions are ongoing, with the US reportedly offering tariff-free access for 70-80% of Sri Lankan exports across over 1,100 product lines, including key items like garments.
This evolving trade dynamic highlights the importance of continued dialogue and strategic efforts by Sri Lanka to safeguard its crucial export market in the US. The next few weeks will be vital as negotiations aim to finalize these critical trade terms.
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