No Final Tariff Deal Yet Between Sri Lanka and US, Says President

COLOMBO (News 1st); President Anura Kumara Dissanayake informed Parliament that no final agreement has been reached between Sri Lanka and the United States regarding tariffs, despite ongoing discussions aimed at resolving key economic concerns.

The President emphasized that Sri Lanka has approached these negotiations openly and pragmatically, acknowledging the country’s current economic challenges. 

He noted that over 25% of Sri Lanka’s exports and nearly 60% of its apparel shipments are destined for the U.S. market, making the outcome of these talks critical to the livelihoods of over 350,000 garment sector workers.

“We’ve appointed a strong team and engaged in continuous dialogue to ensure that any resolution does not harm our economy,” the President said.

He also expressed appreciation for the constructive engagement from the U.S. side, particularly in facilitating a reduction in reciprocal tariff rates from 44% to 20%, which he described as a significant outcome of the ongoing discussions.