The Ceylon Chamber of Commerce (CCC) has expressed deep concern over the imposition of a 44% tariff on Sri Lankan exports to the United States, following a sweeping trade move announced by US President Donald Trump.
The Chamber noted that with the US accounting for approximately USD 3 billion in exports and representing 25% of Sri Lanka’s total merchandise exports, the new tariff presents a serious challenge to trade and economic stability.
In a statement issued today, the CCC warned that the tariffs, alongside broader global trade disruptions, could hamper economic growth by reducing demand in key export markets, including the US and EU.
The CCC welcomed the Sri Lankan President’s decision to appoint a committee to evaluate the impact of the tariffs and recommend steps to safeguard the export sector.
Amid ongoing efforts under the IMF Extended Fund Facility programme, the CCC stressed the importance of negotiating a reduction in the tariff rate and called for a review of the local tariff structure to improve trade facilitation and the ease of doing business.
Reaffirming its commitment to support the Government, the CCC urged all stakeholders to collaborate in developing a coordinated, strategic response to protect Sri Lanka’s trade interests and ensure the sustainability of the export sector.
