Sri Lanka Seeks Dialogue Amid US Tariff Tensions

Sri Lanka is in discussions with the US to find a mutually beneficial resolution after a 30% tariff was imposed on its imports. The government aims to negotiate effectively amid criticism and threats to local jobs. Analysts suggest reducing tariffs on US goods, drawing parallels with Vietnam's approach.

The imposition of a 30% tariff on Sri Lankan imports by the United States has prompted Sri Lanka to seek continued dialogue, aiming for a mutually beneficial resolution. This announcement followed Washington's broader trade initiative, which targets multiple countries with increased tariffs.

Finance Ministry Secretary Harshana Suriyapperuma highlighted the government's intention to leverage this situation effectively for national advantage, while Central Bank Governor Nandalal Weerasinghe mentioned significant progress in ongoing talks.

Meanwhile, the main opposition criticized the government for inadequate negotiation, stating it leads to adverse economic impacts, including threats to 50,000 jobs in the export sector. Economists suggest learning from Vietnam, which avoided higher tariffs by reducing duties on American goods.

(With inputs from agencies.)