Srilanka, April 13 -- On Thursday, April 3, Sri Lankans woke up to the alarming news that the United States, the country's single largest export destination, would be applying 44 percent tariffs. These tariffs will hit Sri Lanka just months after it officially exited sovereign default status in December 2024. While President Donald Trump has now announced a pause.

President Anura Kumara Dissanayake has appointed an advisory committee consisting of the heads of various Government institutions and private sector representatives to study the impact of the tariffs. One of their main concerns should be the impact these tariffs will have on the country's ability to raise foreign currency to service its considerable external debt, which stood ...