AmCham Sri Lanka Hails U.S. Tariff Reduction as Significant Achievement

COLOMBO (News 1st) - The American Chamber of Commerce said that the proposed reduction of the U.S. Tariff on Sri Lankan exports from 44% to 30%, as announced on 9th July, is a significant achievement, and commended all those involved in the negotiation process for their efforts in securing this progress.

In a statement, they said agreements made during the negotiations, and the sentiment of this shift will lead to improved interest in Sri Lanka by U.S. Companies, and increased trade and investment from the USA to Sri Lanka.

It also stated, Sri Lankan exporters face stiff competition as Vietnam, Malaysia, and India hold tariff advantages ahead of the August 1 implementation.

AmCham Sri Lanka urges continued U.S.-Sri Lanka cooperation to boost bilateral trade and pledges full support to all stakeholders involved.