Sri Lanka, Aug. 1 -- There is little cause for celebration despite the new tariff structure announced by the Trump administration, former Finance Minister Ali Sabry said.

He said in a post on X that given the new tariff structure announced by the Trump administration, there is little cause for celebration, but equally, we have not been unduly penalised either. Compared to regional competitors such as Bangladesh, Cambodia, Vietnam, Indonesia, India and China, Sri Lanka has managed to remain relatively level in this difficult environment.

"There are uncertain times for global trade. While there are no real winners in a tariff war, what matters most is not being placed in a significantly disadvantageous position relative to your competitor...