Sri Lanka welcomes US tariff cut but eyes further relief
The Peninsula
Colombo: Sri Lanka welcomed Thursday a sharp cut in US tariffs on its exports, but said it would seek further reductions as Washington pushes for trad...
Colombo: Sri Lanka welcomed Thursday a sharp cut in US tariffs on its exports, but said it would seek further reductions as Washington pushes for trade deals.
US President Donald Trump sent letters to seven trading partners on Wednesday setting out new tariff rates that would take effect on August 1 in addition to existing duties.
Some partners received notably lower rates from those originally threatened, with Sri Lanka seeing the sharpest reduction -- down from 44 percent announced in April to 30 percent.
"We recognise we have made significant progress in the process so far," Sri Lanka's central bank governor Nandalal Weerasinghe said.
"But we need to make more progress."
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