President gets cracking to deal with Trump’s tariff move

Friday, 4 April 2025 03:26 - - {{hitsCtrl.values.hits}}

President Anura Kumara Disanayake

Meets newly appointed committee; does an in-depth review of challenges and discusses course of action

President Anura Kumara Disanayake yesterday got cracking to deal with the threat posed by the US President Donald Trump’s slapping of a high 44% tariff on the import of ‘made in Sri Lanka’ products.

Yesterday morning he appointed a special committee and later in the evening met its members for an in-depth review of challenges and discussed the course of action Sri Lanka should take.

He met with the members of the Committee – Senior Economic Adviser to the President Duminda Hulugamuwa, Secretary to the Ministry of Finance Mahinda Siriwardana, Governor of the Central Bank Dr. Nandalal Weerasinghe, Secretary to the Ministry of Trade A. Wimalaneththiraja, Export Development Board Chairman Mangala Wijesinghe, Foreign Affairs Ministry Senior Director General (Bilateral) Dharshana Perera, Ceylon Chamber of Commerce Chief Economic Policy Adviser Shiran Fernando, Brandix Group CEO Ashroff Omar, MAS Holdings Co-Founder Sharad Amalean, Lanka Garments Managing Director Saif Jafferjee and Michelin Lanka Country Head of Legal and Public Affairs Nilanthi Weliwe. Additionally, Minister of Labour and Deputy Minister of Economic Development Dr. Anil Jayanta Fernando and Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma also participated in the discussion.

The committee was appointed to explore necessary measures and submit recommendations to the Government.

During the discussion, an in-depth review was conducted on the background and basis of these tariffs, as well as the economic challenges that small economies like Sri Lanka may face due to the imposition of high-value tariffs.

A comprehensive discussion was also held on the course of action Sri Lanka should take in response to the emerging situation and the necessary steps to be implemented moving forward.

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