Trade Turbulence: Impact of New US Tariffs on Sri Lanka

Sri Lanka faces economic challenges as President Anura Kumara Dissanayake appoints a high-powered committee to study the impact of new US tariffs on exports. The tariffs, mainly on apparel and rubber products, threaten Sri Lanka's economy, prompting the government to seek diplomatic solutions while reassessing trade policies.

Sri Lankan President Anura Kumara Dissanayake has appointed a high-powered committee to evaluate the impact of new US trade tariffs on the island nation's economy.

The committee will delve into the implications, particularly affecting Sri Lankan exports, amidst President Trump's announcement of reciprocal tariffs on approximately 60 countries.

With a 44% tax affecting Sri Lankan goods, especially apparel and rubber products, the nation faces economic challenges, prompting diplomatic discussions with the US and potential policy reassessments.

(With inputs from agencies.)