Sri Lanka, July 11 -- U.S. President Donald Trump's decision to impose a reciprocal tariff of 30 percent on imports from Sri Lanka will come into effect on August 01, 2025.
President Trump had initially announced on April 2 that a 44 percent tariff would be imposed on Sri Lankan imports, citing an 88 percent trade deficit between the two countries.
However, in a letter sent to his Sri Lankan counterpart on July 10, he confirmed a 14 percent reduction from the previously announced rate, lowering the tariff rate to 30 percent.
Speaking at a special press conference held yesterday (10), Finance Ministry Secretary Dr. Harshana Suriyapperuma and Central Bank Governor Dr. Nandalal Weerasinghe stated that discussions are ongoing to reduce fur...
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