Colombo, April 12 -- With Sri Lanka being hit by the new Trump tariffs, former President Ranil Wickremesinghe has said that the US does not have the economic capacity to impose its will on the rest of the world.
"In 1950 the US had 50% of the world's GDP. Today it is only 25%, China has 19% and the EU 13%. These high reciprocal tariffs seek to destroy the manufacturing capacity of Asia from East Asia to South Asia. This also affects Australia. In one blow, the faith in the Indo-Pacific has been lost. It will also weaken support for Taiwan in the region," he said in a statement, the Daily Mirror reported.
Condemning the tariffs, he said that the world now had an alternative with China, adding: "Many low paying jobs in Asia, totalling over ...