Nothing agreed upon to get tariffs reduced: Central Bank Governor

10 July 2025 06:44 pm Views - {{hitsCtrl.values.hits}} 4 Bookmark

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Colombo, July 10 (Daily Mirror) - Claiming that Sri Lanka has not agreed to offer anything to the United States to get the tariff reduced to 30 percent from the 44 percent, Central Bank Governor Nandalal Weerasinghe said today it is a recognition of good faith negotiations to bring benefits to both countries.

He told a special media briefing at the Government Information Department that Sri Lanka has made significant progress so far and will continue to engage with an intention to have a better solution going forward for Sri Lanka.

"We have made significant progress so far and we want to make good progress. Negotiation channels are open. We will continue to engage with an intention to have a better solution going forward for Sri Lanka," he said.

In response to a question what Sri Lanka had offered the US to get the tariff cut to 30 percent from 44 percent, the Governor said nothing has been agreed so far and that it is only a recognition of good faith negotiations to bring benefits to both countries.

"Nothing has been agreed so far. We have engaged in good faith negotiations with an intention to bring benefits to both countries. That is the bottom-line of the negotiations. The whole idea is to increase more trade and more market access for US and Sri Lanka. What are the products we can import more from US and export more to the US," he said adding, "It is a process of negotiations where we offer what we can offer and they offer what they can offer. They say these are the regulations you need to relax, we say whether we agree or not. This is a process of discussions taking place still and ultimately all will come to an agreement."

Comments - 4

Yohan Thursday, 10 July 2025 07:14 PM

With or without agreement will not work anymore for us or any asian counry. Tax on Latin Americn countries are around 10 percent. So textile industry targeting us market in Asia will collpase as Latin America and Africa will be key importers in future to us. Lol

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Zarook Thursday, 10 July 2025 07:50 PM

Nandalal was the deputy of Arjuna Mahendran during the bond scam.

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Neel Ahmed Friday, 11 July 2025 12:16 PM

Yes, this Governor of Central bank also responsible for the all Srilankan economic burden occurs on last few years. One of the Useless person who hold the most responsible post. Accounting to him we already won the match with the Us tax game , but actually what has happened is we are in the very dangerous situation compere with the other countries who were doing same business. This Useless person is always dance with the whoever on the Prisdentship.

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Gave nothing and got reduction of 14 percent Thursday, 10 July 2025 09:14 PM

Trump had especially said, that the 30% is against Lanka government's tariff, and non-tariff policies and trade barriers. Already milk powder prices have gone up due to government high taxes. Let US export anything with no import duty and consumers will benefit greatly. Supporting local farmers with tax subsidy against US will result in country going back to unending bankruptcy.

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