SL slapped with 44% reciprocal tariff by US

Sri Lanka has been slapped with 44 percent reciprocal tariff by the US, which would impact the local export sector, particularly apparel. 

According to President Donald Trump's new tariff, the island nation has been imposed a 10 percent baseline tax and a 44 percent reciprocal tax, making it 54 percent effective. 

Sri Lanka is among the list of countries that have been slapped with high tariffs by President Trump. 

Tariffs charged to the US by Sri Lanka, including currency manipulation and trade barriers, is 88%.

As reported by Mirror Business in print today, Sri Lanka is yet to assess the impact of the reciprocal tariffs imposed by the Trump administration.