Prof. Samarajiva not impressed with US tariff move

Monday, 4 August 2025 05:14 - - {{hitsCtrl.values.hits}}

Says unilateral action threatens SL economic recovery, debt repayments and livelihoods

LIRNEasia Chairperson Prof. Rohan Samarajiva in a LinkedIn post on the latest Trump tariff said that Sri Lanka had nothing to be thankful for despite the reduction.

“The increase of tariffs on all merchandise imported from Sri Lanka to 44%, its subsequent reduction to 10%, and the current level of 20% plus previous HS [Harmonised System] code-specific tariffs, is nothing to be thankful for.”

“The fact is that a major trading partner has unilaterally jacked up pre-existing tariffs based on spurious grounds. The fact is that our economy, our ability to repay our restructured debts, and the livelihoods of many thousands of Sri Lankans have been threatened for no good reason. We have no authoritative information on what concessions have been given by the Government in return for the rate of 20%,” Prof. Samarajiva said.

Meanwhile, a source told the Daily FT that Sri Lanka had offered concessions for US imports to Sri Lanka in 2,000 tariff lines in industrial and agricultural goods, but did not specify. “We have to offer something. Countries like Bangladesh and Vietnam could offer to invest in the US, but Sri Lanka does not have that kind of resources,” the source said, not wanting to be named.

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