The Ministry of Finance announced today that the United States has reduced the proposed 12.5% additional tariff on Sri Lankan exports to a minimum of 10%, following Sri Lanka’s decision to ban the import of goods produced using forced labour.
According to the Ministry, the move is expected to deliver positive results for exporters, while reflecting Sri Lanka’s ongoing commitment to fair trade, responsible business practices, and internationally accepted labour standards.
Officials said the tariff adjustment will enhance the competitiveness of Sri Lankan exports in the US market, sending a strong signal to investors and buyers about the country’s dedication to sustainable economic reforms.
The Ministry added that the revision demonstrates Sri Lanka’s determination to build a modern, competitive trading environment that supports exporters and contributes to sustainable economic growth. (Newswire)
