10% US tariff protects Sri Lankan manufacturing competitiveness

The decision by the United States to impose a 10% tariff on goods imported from Sri Lanka will help protect the competitiveness of Sri Lankan products in the export market, says the Exporters Association of Sri Lanka (EASL).

Compared to the previously proposed higher tariff, the 10% rate is a significant improvement and will provide greater certainty to Sri Lankan exporters, says the Exporters Association of Sri Lanka (EASL).

The Exporters Association of Sri Lanka (EASL) thanks President Anura Kumara Dissanayake, the government and officials who engaged in negotiations with the United States to secure this tariff relief, saying their efforts have helped protect the livelihoods of exporters and thousands of people who depend on the sector.

 The Exporters Association of Sri Lanka (EASL) points out that this tariff concession has placed Sri Lanka on a level playing field with several major competitors including Bangladesh, India, Pakistan, Indonesia, Malaysia and Cambodia.

While welcoming this tariff concession, the Exporters Association of Sri Lanka (EASL) further states that it urges the Government of Sri Lanka to pursue a comprehensive bilateral trade agreement with the United States to achieve greater certainty, improve market access and strengthen economic cooperation between the two countries.