Trump tariff concessions advantageous but challenges formidable, warns Karu Jayasuriya

Tuesday, 5 August 2025 03:18 - - {{hitsCtrl.values.hits}}

NMSJ Leader Karu Jayasuriya says Sri Lanka’s manufacturing sector is one of least productive sectors
Asserts manufacturing sector is beset by high electricity tariffs, too many holidays and strikes

National Movement for Social Justice Leader Karu Jayasuriya

National Movement for Social Justice (NMSJ) Leader Karu Jayasuriya in a statement said that the fact that US President Donald Trump has reduced the export tariff rate on Sri Lanka from 44% to 20% can be considered a form of concession given the challenges the country faced. However, Jayasuriya emphasised the need for Sri Lanka to act collectively and wisely, given the competitive situation arising from Asian countries in the future export of goods from Sri Lanka to the US.

“As the NMSJ, we request the Government led by the President, especially the institutions that plan policies related to the country’s economy, as well as private entrepreneurs and professional organisations, to come together and prepare future plans regarding the challenges that may arise,” Jayasuriya said.

He pointed to a number of areas that Sri Lanka needed to pay attention to. “Sri Lanka’s manufacturing sector is considered to be one of the least productive sectors. It also has the highest electricity tariffs. As a country with the most holidays in the world, we are in an environment that discourages industries. In addition, the constant strikes in the ports and other public transport sectors pose a mortal threat to our country’s manufacturing sector.”

He advised the Government to pay more attention to these situations, considering the favourable manufacturing environments maintained by other countries in the Asian region that compete with Sri Lanka. “We believe that without entering such a transformational era, the challenges facing the export economy will not be overcome. Therefore, the NMSJ calls on the Government, the entrepreneurial community representing the private sector, and the patriotic people to understand the reality and work together to overcome the challenges before us,” Jayasuriya concluded.

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