US, Sri Lanka Hold High-Level Talks to Resolve Tariff Disputes

COLOMBO (News 1st); A high-level discussion on tariff issues between US trade representatives and Sri Lankan officials took place yesterday (22) in Washington, D.C. 

The meeting aimed to address the ongoing challenges posed by reciprocal tariffs.

Deputy Minister Professor Anil Jayanta Fernando stated that the Sri Lankan delegation included Deputy Minister of Finance Dr. Harshana Suriyapperuma, the Secretary of the Ministry of Trade, and the Sri Lankan Ambassador to the United States.

The US side was represented by the head of the US Trade Representative's office and other officials.

Professor Fernando described the discussions as productive, indicating that both parties are committed to finding mutually beneficial solutions to the tariff disputes.

The reciprocal tariffs between the United States and Sri Lanka have created significant economic challenges. 

Under the US's revised trade policy, tariffs as high as 44% have been imposed on Sri Lankan goods, particularly affecting the apparel sector, which is a major export industry for Sri Lanka 

These tariffs were introduced as a countermeasure to what the US perceives as unfair trade practices, including high tariffs and non-tariff barriers on US goods.

The ongoing discussions in Washington are part of efforts to mitigate these impacts and explore ways to enhance bilateral trade.