Govt. urged to reveal deal struck with the U.S.

By Yohan Perera   

United National Party (UNP) whilst questioning on valorem’  duties (additional duties) which will be charged other than the 20 per  cent tariff on Sri Lankan exports yesterday urged the government to make  a clear statement on the ‘meaningful trade and security agreements  arrived at with the U.S. The party which quoted the new order issued by U.S.  President Donald Trump said ad valorem (duty which are based on the  assessed value of the item that being taxed) is to be levied from some  countries.   

Following is the statement issued by the UNP in this regard.   

The United National Party welcomes the new Executive Order  issued by President Donald Trump further modifying reciprocal tariff  rates. 

We commend the government and the negotiating team for successfully concluding negotiations.    The new order from Trump states as follows   

“Some trading partners have agreed to, or on the verge of  agreeing to meaningful trade and security commitments with the United  States.,”   

Section 2 (b) ‘certain foreign trading partners identified  in annex 1 to this order have agreed to or are on the verge of agreeing  to meaningful trade and security commitments with the United States.  Goods of these trading partners will remain subject to the additional ‘ad valorem’  duties provided in annex 1 of this order until such time as those  agreements are concluded and I issue subsequent order memorializing the  terms of these agreements” .   

“We request the government to make a clear statement on the  ‘meaningful trade and security agreements arrived at with the USA,”..