Sri Lanka, July 25 -- The Finance Ministry while hailing the reduction of proposed US tariff of 12.5 % to 10 % on Sri Lanka yesterday said that the decision will enhance the competitiveness of Sri Lankan exports in the US market.

The Ministry added that this decision will have a positive impact on the economy. The United States announced yesterday the reduction of the proposed 12.5% surcharge on Sri Lanka to a minimum of 10%, in response to the Government's decision to ban imports of goods produced through forced labour, the Finance, Planning and Economic Development Ministry said. According to the Ministry, the US had reviewed 60 countries on June 2,2026, with Sri Lanka initially placed under the 12.5% surcharge category.Following this...