CNCI urges Govt. to take immediate steps on high US tariff

Monday, 7 April 2025 05:43 - - {{hitsCtrl.values.hits}}

Ceylon National Chamber of Industries (CNCI) has urged the Government to take immediate steps to resolve crisis emanating from the imposition of high 44% tariff by the US President Donald Trump on Sri Lankan products.

“Sri Lanka has been assigned a 44% ad valorem tariff on its exports to the US. This is one of the highest rates among all countries targeted. This has created a serious threat to the country’s export competitiveness, employment, and overall economic stability. Sri Lanka’s economy relies on a few key export sectors, notably apparel and textiles, tea and agricultural products, rubber-based goods, and shipping/logistics services. All of these will feel the impact of the 44% tariff,” CNCI said in a statement.

“In short, any manufacturing export not explicitly exempt is now harder to sell in the US market. This may slow down Sri Lanka’s efforts to diversify exports beyond garments significant challenges for the industry. Most of our members have expressed concerns about the future impacts on their businesses due to this tariff,” it said.

As the leading chamber representing Sri Lanka’s industries, CNCI believes that the Government will engage with the relevant authorities and stakeholders to explore possible solutions.

“The leadership of the Government is vital at this juncture in advocating for policies that support industrial growth and sustainability in helping the local industry sector to navigate this challenge. CNCI is ready to collaborate and provide any necessary assistance or insights to support the Government efforts,” the statement added.

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