Trade worry: Sri Lankan exporters flag 30% proposed US tariff; Apparel, rubber sectors may take hit

Sri Lankan exporters have expressed concern over a proposed 30 per cent tariff on goods entering the US, warning that the hike could severely impact key export sectors including apparel and rubber products.The Exporters Association of Sri Lanka (EASL) on Friday urged the government to step up negotiations with Washington ahead of the August 1 deadline, PTI reported. In a statement, the group acknowledged ongoing efforts by Sri Lankan trade representatives but said greater urgency and determination were needed to protect the country’s export competitiveness.EASL noted that competitor nations such as Vietnam and India faced lower tariffs of 20 per cent and 26 per cent, respectively, under the revised US tariff framework. It called the proposed 30 per cent duty rate “unsustainable” and said it would put Sri Lankan exporters at a disadvantage in global markets.To mitigate the potential fallout, the association also advised authorities to explore new international markets and diversify export destinations to shield the economy from future external trade shocks.