Seafood exporters seek govt. support as impact of U.S. tariff sets in

Seafood exporters seek govt. support as impact of U.S. tariff sets in

In the wake of reciprocal tariff imposed on imports by the U.S., exporters face the prospect of return of shipments reaching the U.S. after April 9. Due to lack of demand from exporters, two-thirds of deep trawlers in Kerala are grounded

According to the Joint Apparel Association Forum, the 44% tariffs imposed by the White House risk causing a serious setback. Textiles make up 64% of Sri Lanka's exports of 1.8 billion dollars in 2023, possible losses of up to 300 million dollars. Far-reaching impacts also for rubber and other sectors.

His tariffs are confusing the world markets, but the US President does not change course. He accuses the EU of obstructing imports by means of a "ball test", offers are running out of steam.

Sri Lanka Navigates Trade Challenges amid US Tariff Announcement - LNW Lanka News Web

In response to the United States’ recent announcement of a 44% reciprocal tariff on Sri Lankan exports, the Sri Lankan government confirmed that Washington has officially requested proposals to address its trade deficit with Sri Lanka. This move has prompted swift diplomatic and economic actions between the two nations. At a press briefing, Economic Development Deputy Minister Prof. Anil Jayantha Fernando and Finance and Planning Deputy Minister…

Sri Lanka should stop blocking export diversification, victimizing services after Trump tariff • Sri Lanka Brief

By Bellwether  ECONOMYNEXT – Sri Lanka has a plethora of tax, energy problems and other regulations that have blocked export diversification, and discriminates against services exports which is the next big thing where there is an innovation frontier and big margins. The Trump taxes, which are based on a completely mistaken ideology – that trade deficits are bad or that taxes can reduce imports and trade deficits, something that Sri Lanka’s pol…

Sri Lanka exporters asked to suspend some shipments to US after Trump tariffs

ECONOMYNEXT – Some US buyers have asked exporters in Sri Lanka to suspend shipments after a 44 percent tax was slapped on shipment from the island, apparel industry sources said. “There are some expectations that President Trump may give an extension from the April 09 deadline,” an apparel industry source said. “If it is extended the buyers may be able to clear the goods without the tax.” The request to halt shipments by US buyers are coming jus…