Donald Trump Imposes a 44% Tariff on Sri Lankan Imports
U.S. President Donald Trump has decided to impose a 44% tariff on goods imported from Sri Lanka.
This tariff imposition was announced by the U.S. President yesterday (April 2) and is reported to take effect from April 5, 2025.
President Trump made a live announcement yesterday regarding the imposition of reciprocal tariffs on several countries.
It has been stated that a new tariff list covering more than 60 countries worldwide has been released.
The U.S. President stated that the purpose of this new tariff policy is to control the U.S. trade imbalance and strengthen American industries.
According to the new tariff policy, all imports will be subject to a 10% tariff, while countries that maintain a trade surplus with the United States will face higher tariffs.
As a result, Sri Lanka has been subjected to a 44% tariff, placing it among the top five countries facing the highest tariff rates.
Cambodia has been hit with a 49% tariff, while Vietnam faces a 46% tariff. Bangladesh has been subjected to a 37% tariff, Thailand 36%, China 34%, India 26%, and the European Union 20%.
Previously, the U.S. had imposed a 12.2% tariff on Sri Lankan imports. However, with this new tariff, Sri Lanka’s export sector is expected to face severe challenges, according to economic experts.
Notably, the majority of Sri Lanka’s apparel exports are directed to the U.S., and this tariff hike is expected to significantly impact that sector.
In 2024, the U.S. imported over $3 billion worth of goods from Sri Lanka, and in January alone this year, imports exceeded $346 million.
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I am shocked by this imposition of the 44% Tariff.
POTUS claims SL imposes 88% Tariff on imports from the US.
Our share of the US export market is only 0.1%, but with an 88% tariff on US imports and an 18% VAT, we have achieved a trade surplus of USD 3 billion.
The new tariff will significantly increase the price of our export goods in the US market, resulting in a substantial decline in our export market share leading to increased poverty amongst citizens.
Nations worldwide are deeply troubled by the US announcement, and many leaders have spoken with POTUS.
I wonder if HE President Kumara has attempted to contact POTUS while being committed to announcing the Easter Sunday perpetrators in the next few days.