The United States has decided to increase taxes on products from India, raising the total tax to 50%. This is because India is still buying oil from Russia. The new tax will start on August 27, based on an order from President Donald Trump. It is one of the highest taxes the US has ever put on another country. India’s …
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The Ceylon Chamber of Commerce has officially commended the Government of Sri Lanka and its national negotiation team for their successful efforts in securing a further reduction in the reciprocal tariff rate with the United States. This significant achievement sees the tariff rate on Sri Lankan exports reduced from 30% to 20%. Krishan Balendra, Chairperson of the Ceylon Chamber, remarked, …
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LIRNEasia Chairperson Prof. Rohan Samarajiva in a LinkedIn post on the latest Trump tariff said that Sri Lanka had nothing to be thankful for despite the reduction.
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The Planters’ Association of Ceylon (PA) has voiced serious concerns following U.S. President Donald Trump’s announcement of a 30% tariff on all goods imported from Sri Lanka, effective August 1, 2025. The U.S. is one of Sri Lanka’s key markets for both tea and rubber. In 2024, the U.S. bought 6.4 million kg of Ceylon Tea worth USD 45 million. …
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Sri Lanka’s economy is expected to grow by 3.5% this year, after recording 5% growth last year, according to the World Bank, showing signs of steady recovery from the 2022 financial crisis. However, the International Monetary Fund (IMF) warns that global trade issues, especially with the United States could slow down that progress. In a statement issued after completing its …
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Sri Lanka’s coconut exporters have warned that a 30 percent Trump tariff will hit 20 percent of annual exports as competitors have got access at much lower rates to the United States.
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