Sri Lanka, July 21 -- The Sri Lankan government is exploring the possibility of importing US West Texas Intermediate (WTI) crude oil as part of ongoing efforts to narrow the trade deficit with the United States and seek relief from recently imposed tariffs.

This initiative follows US President Donald Trump's decision to introduce reciprocal tariffs targeting countries with which the US maintains significant trade deficits. As a result, Sri Lanka has been in talks with the Office of the United States Trade Representative (USTR) to reduce the impact of these tariffs.

Initially, Sri Lankan exports were hit with a 44% tariff in April, but following multiple rounds of discussions, the rate has been lowered to 30%, effective from August 1. Go...