Sri Lanka awaiting US response over Trump tariffs proposals
- CNL Reporter
- April 30, 2025
- Business News
- Trump tariffs
- 0 Comments
Sri Lanka is expecting a US response to proposals made by Sri Lanka to address a trade surplus and reduce import barriers, Deputy Minister of Finance and Planning Harshana Suriyapperuma said.
Sri Lanka team had met the US Trade Representative Jamieson Greer and other officials.
“We understand there are two fronts in the US tariff discussions,” Suriyapperuma told reporters in Colombo Tuesday, after returning from talks in Washington.
“One is bringing down the trade deficit that US is recording as of now compared to the surplus that Sri Lanka is recording.
“The second aspect is addressing matters relating to the tariff side of it, how to improve it further. And during these discussions, it was very important for us to maintain and explain to them the position that Sri Lanka is within an IMF program.”
“Our ability to make certain decisions are limited to the extent with the program parameters that we are supposed to comply.”
Sri Lanka’s aim in the negotiations is to make sure that the competitive position Sri Lanka enjoyed in relation to other exporters in to the US was maintained, he said.
“From the Sri Lankan side, formal proposals have been handed over as of now,” Suriyapperuma said.
“And we are expecting certain response in relation to our details that we shared with them, any clarifications that they require, particularly if their exporters are willing to engage in further discussions to explore what are the other areas that they can supply goods to Sri Lanka.”
Sri Lanka had suggested energy imports as an area where the deficit could be bridged fast as it was the largest import item.
Sri Lanka also explained that the current government wanted to have competitive procurement where US firms could compete on a level playing field.
“So there is a vast opportunity for somebody who is competitive enough to provide with the best pricing to engage with Sri Lanka, either in the gas segment or in the oil segment or in the refined fuel segment or crude oil supply segment,” Minister Suriyapperuma said.
“So there are various opportunities on those areas. We presented those opportunities to the authorities over there to engage their suppliers, vendors, counterparts to engage in the discussions to review the possibility and explore the opportunity to supply those items to Sri Lanka.”
