Sri Lanka, April 7 -- The Ceylon National Chamber of Industries (CNCI), issuing a statement, urged the government to take immediate steps on the US tariff.
Stating that the 44 percent ad valorem tariff Sri Lanka has been assigned on its exports to the US one of the highest rates among all countries targeted, the CNCI expressed that this move has created a serious threat to the country's export competitiveness, employment and overall economic stability.
"Sri Lanka's economy relies on a few key export sectors, notably apparel and textiles, tea and agricultural products, rubber-based goods and shipping/logistics services. All of these will feel the impact of the 44 percent tariff," the CNCI said.
"In short, any manufacturing export not e...