> Sri Lankan exporter reacts to US tariff cut / 66LP2KE
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Sri Lankan exporter reacts to US tariff cut / 66LP2KE
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Description
The United States announced a sharp cut in US tariffs on Sri Lanka's exports, down from 44 percent announced in April to 30 percent. But the new tariff on clothing imports, scheduled to go into effect on August 1, 2025, still sparks worries in Sri Lanka's apparel industry. Due to the decision, Sri Lanka is at a disadvantage when compared to regional rivals with lower import duties from the United States, such as Vietnam and India. Industry leaders caution that the tariff may result in a drop in export orders, jeopardize thousands of jobs, and have an impact on much-needed foreign exchange earnings, as the United States is Sri Lanka's largest apparel market. IMAGES AND SOUNDBITES