US EditionSri Lanka Stocks Rise 2.09-Pct Topping 18,500 After Trump Eases Tariffs
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US Tariffs on Sri Lanka and Philippines may shift trade advantage to India
NEW DELHI : India could pose stiff competition to Sri Lanka and the Philippines for nearly a fifth of their exports to the United States as both countries are facing high import duties under new US trade arrangement, according to an analysis. The impact is expected to be sharper for Sri Lanka, where 21 percent or $618 million of its $2.98 billion exports to the US in 2023 could now face Indian competition. The island nation has been subjected to…
Sri Lanka stocks rise 2.09-pct topping 18,500 after Trump eases tariffs
ECONOMYNEXT – Colombo All Share Price Index has surpassed 18,500 mark, hitting a fresh record high on Friday after US president Donald Trump reduced Sri Lanka’s tariffs to 30 percent, down 14 percent, brokers said. “Market was very bullish today. Investor confidence returned to the market following the US tariff rate announcement,” Dimantha Mathew, Chief Research and Strategy Officer at First Capital Holdings PLC told EconomyNext. Tariff rate is…
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