SriLanka, June 4 -- The Ceylon Chamber of Commerce is concerned by the announcement of new labour-related tariffs by the United States on several countries, including a proposed 12.5% tariff on exports from Sri Lanka. This development comes at a time when Sri Lanka was continuing discussions with the US following the suspension of the previously announced reciprocal tariffs and was seeking to secure a more favourable trading arrangement.
The imposition of an additional tariff on Sri Lankan exports risks undermining the competitiveness of key export sectors compared to other countries, which are at a lower rate of 10%. At a time when Sri Lanka is working to accelerate export growth, attract investment, and create employment opportunities, a...