🇱🇰 Sri Lanka Hit with 30% U.S. Tariff

U.S. President Donald Trump announced that a 30% tariff will be imposed on goods exported from Sri Lanka due to the significant trade deficit between the two countries.

⭕ 🇺🇸 imports approximately $3 billion worth of Sri Lankan 🇱🇰 goods annually—mainly apparel, textiles, tea, and rubber.

⭕ 🇱🇰 imports only about $400–500 million worth of U.S. goods—mostly animal feed, pharmaceuticals, electronics, yarn, and fabric.

⭕ The 🇱🇰–🇺🇸 trade deficit stands at around $2.5 billion in 2024.

⭕ Sri Lanka secured the biggest tariff reduction among Asian nations (down from 44% to 30%) - SL government

⭕ Despite having very little to offer in return and virtually no leverage at the negotiating table, Sri Lanka managed to secure a reduction of the tariff to 30%—a commendable achievement by the government when compared to other Asian nations.

#SriLanka #TrumpTariffs