Sri Lanka, Feb. 25 -- For Sri Lanka's multi-billion dollar apparel industry, volatility has become the only constant in 2026.

After months of what industry leaders described as "borderline panic" over punitive US trade measures, the sector is recalibrating following a landmark US High Court ruling that nullified country-specific "Trade Imbalance" tariffs.

However, relief has been tempered by the introduction of a new 15% global baseline tariff by the administration of Donald Trump.

Chairman of the Joint Apparel Association Forum (JAAF), Felix Fernando, says the situation is far more complex than headline figures suggest.

From punitive tariffs to a global flat rate

Fernando explained that the original tariff formula was based on trade...