Deputy Minister of Economic Development, Anil Jayantha Fernando, says Sri Lanka intends to continue discussions with the US authorities until the 01 August deadline to further reduce the revised trade tariffs.
Briefing the Parliament on the current situation, Anil Jayantha Fernando said that the United States has sent courtesy letters stating that the revised trade tariffs will come into effect from 01 August.
He further said that in its courtesy letter, the US government says that a 30% tax will be levied on Sri Lankan exports if Sri Lanka fails to enter into a bilateral trade agreement before August 1.
“Sri Lanka is one country that has received this letter. Among the letters sent to 25 countries, Sri Lanka is the nation that has received the highest concession. We intend to continue talks until the 1st August deadline and attempt to further reduce the tariffs,” he said.
Anil Jayantha Fernando further revealed that upon the initial imposition of trade tariffs by the US, Sri Lanka immediately appointed a committee and commenced negotiations with the US authorities.
“On two occasions, Sri Lankan delegations visited the US for direct talks with the US Trade Office officials. The reduction from 44% to 30% trade tariffs is an outcome of these negotiations,” he said.
Deputy Minister of Economic Development, Anil Jayantha Fernando, added that Sri Lanka will continue discussions with the US authorities to facilitate a further reduction of the imposed trade tariffs. (Newswire)