Sri Lanka, April 3 -- Sri Lanka's apparel industry has expressed its concern over the Reciprocal Tariff policy announced by the U.S regime earlier today. The new tariffs proposed could significantly disrupt the country's largest export sector and put thousands of jobs at risk.
Following an announcement by U.S. President Donald Trump on April 2, a 10% baseline tariff on all imports will take effect from April 5, increasing to a 44% "reciprocal" tariff on Sri Lankan exports, starting April 9.
"This tariff level is extremely high relative to our regional competitors," said Yohan Lawrence, Secretary General of the Joint Apparel Association Forum (JAAF). "Sri Lanka could very quickly see its share of US business move to countries with lower ta...