CBSL Chief dismisses 44% tariff on Sri Lankan exports to US
- CNL Reporter
- May 19, 2025
- Banking and Financial
- CBSL
- 0 Comments
Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe last Friday stated that the imposition of a 44% reciprocal tariff on Sri Lankan exports to the US is unlikely, citing ongoing diplomatic engagement and recent developments in global trade policy.
He made these remarks at a public lecture organised by the CBSL titled ‘State of the Economy as Reflected in the Annual Economic Review 2024’ last Friday.
Responding to concerns over the 90-day tariff pause currently granted to Sri Lanka by the US, Dr. Weerasinghe said that early discussions with the US Trade Representative’s Office had already taken place and there was time for negotiations.
Noting that the US agreed to cut the extra tariffs it imposed on Chinese imports last month to 30% from 145% for the next three months, while China committed to cutting duties on US imports to 10% from 125%, the Governor said: “There is a ‘less probability’ of having going back to that kind of extreme scenario.”
