Ceylon Chamber says tariff reduction to US a ‘significant step’

Friday, 11 July 2025 02:45 - - {{hitsCtrl.values.hits}}

The Ceylon Chamber of Commerce yesterday described the proposed 30% tax on Sri Lankan imports to the US as opposed to 44% mooted earlier was a “significant step.”

In a statement, The Ceylon Chamber said it views the reduction in the tariff rate from 44% to 30% as a constructive and important first step by the Government towards bringing Sri Lanka’s tariff structure for exports to the US closer to that of regional competitors.

“We encourage continued engagement with the US administration to secure a further reduction by 1 August, especially given that several regional peers are expected to benefit from even lower rates. Progress in achieving a further reduction will be critical to strengthening Sri Lanka’s position in this key market, maintaining buyer confidence, and supporting sustained trade growth over the long term,” it said.

The Ceylon Chamber said it stands ready to support the Government’s efforts in this regard through constructive dialogue, industry feedback, and coordinated advocacy.