Tariff wars lead to real wars: Sri Lanka economist on economic nationalism

One million jobs at risk if the 44 per cent tariffs come into force after the 90-day break. Among the sectors most exposed to that of textiles and clothing. For experts the duties will lead to a 20% decrease in exports to the US, with annual loss of about 300 million dollars.

Tariff wars lead to real wars: Sri Lanka economist on economic nationalism

ECONOMYNEXT – Tariff wars that disrupt trade has led to real wars throughout history, including in Sri Lanka top economist W A Wijewardene had pointed out as the US President Trump started wild cat tariffs breaking up a free trade order it helped create after World War II. Wijewardene pointed to a statement made by Dhananath Fernando, chief executive of Colombo-based Advocata Institute, that if soldiers are not to cross the international boundar…