Sri Lanka, July 31 -- Discussions held with US authorities aimed at reducing the higher reciprocal tariff rate announced by US President Donald Trump have not been successful thus far, Minister of Industry and Entrepreneurship Development Sunil Handunneththi has acknowledged.

Although several discussions were held with US authorities, Sri Lanka has been unsuccessful in striking a deal to reduce the reciprocal tariffs announced by the US President, Minister Handunneththi conceded.

According to the announcement made by US President Trump, an additional 30% tariff will be imposed on Sri Lankan exports entering the US market from tomorrow (Aug 1).

The Minister said they are still hopeful of a better deal pertaining to tariffs, although it ...