• Home 1
  • Privacy Policy
LSD News
  • Home
  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Sports
  • Stock
  • Tech
  • Travel
No Result
View All Result
  • Home
  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Sports
  • Stock
  • Tech
  • Travel
No Result
View All Result
LSD News
No Result
View All Result
Home Politics

Sri Lankas apparel industry alarmed by US tariff of 30%, hopes for cut

by
July 10, 2025
in Politics
0
Sri Lankas apparel industry alarmed by US tariff of 30%, hopes for cut
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Distress is in store for Sri Lanka’s garments sector if the island nation is unable to clinch a tariff lower than the 30% figure U.S. President Donald Trump has clamped on imports from Colombo, a top industry body warned on Thursday.

The United States takes about 40% of apparel exports, helping to pull in $1.9 billion last year and make the industry Sri Lanka’s third largest earner of foreign exchange, employing 300,000 people, most of them women.

“If this is the end number, Sri Lanka is in trouble because our competitors, such as Vietnam, have received lower tariffs,” Yohan Lawrence, of the Joint Apparel Associations Forum (JAAF) representing the largest apparel companies, told Reuters.

“But we are hopeful we can continue discussions.”

In a letter on Wednesday, Trump notified President Anura Kumara Dissanayake of the 30% tariff from August 1, a rate well above the 20% levy faced by competitor Vietnam.

The U.S. tariff on neighbouring Bangladesh, another major South Asian garment exporter, was set at 35%, though the levy on India, also a big U.S. supplier, has not yet been unveiled.

The Sri Lankan government did not immediately respond to a request for comment but called a news briefing later in the day, to be attended by central bank governor Nanadalal Weerasinghe as well as trade and finance officials.

Sri Lanka’s apparel exports to the United States in the first five months of 2025 stood at $747 million, while its total apparel exports last year were worth $4.8 billion, JAAF data shows.

Last week, the International Monetary Fund (IMF) said Sri Lanka’s economic outlook remains positive, despite significant risks to macroeconomic and social stability from global trade policy uncertainties.

When he initially unveiled his tariffs on April 2, Trump had threatened a levy of 44% on about $3 billion of the Indian Ocean nation’s exports.

Source: Reuters

–Agencies



Tags: ada deranaadaderanaadaderana.lkalarmedAnuraKumaraDissanayakaApparelAragalayabreaking news in sri lankaColomboColombo Stock ExchangeCoronaCovidCricketCutdebt restructuringelection2024EntertainmentGotabayaRajapaksahopesIMFIndustryIPLKusal Mendisla.adaderana.lklankan newslatest sri lankan newsLPLMahindaRajapaksaMatheesha PathirananarcoticsNPPRanilWickremesingeSajithPremadasaSJBSLCSrisri lankasri lanka business newssri lanka gossipSri Lanka gossip newssri lanka hot newssri lanka newsSri Lanka political newssri lanka sports newsSri Lanka trending newsT20I World cup 2024tariffviral news
Previous Post

Oil India, GAIL shares in focus after 15-year gas supply deal from Rajasthan fields

Next Post

Trump’s next Fed chair pick already comes with a credibility problem

Next Post
Trump’s next Fed chair pick already comes with a credibility problem

Trump's next Fed chair pick already comes with a credibility problem

Stay Connected test

  • 139 Followers
  • 205k Subscribers
  • 23.9k Followers
  • 99 Subscribers
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Hawaii officials work to address mental health challenges facing wildfire survivors

Hawaii officials work to address mental health challenges facing wildfire survivors

August 17, 2023
Wegovy heart health data is promising — but insurers face long road, high cost to cover obesity drugs

Wegovy heart health data is promising — but insurers face long road, high cost to cover obesity drugs

August 10, 2023
Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

July 16, 2023
Working-age Americans are struggling to pay for health care, even those with insurance, report finds

Working-age Americans are struggling to pay for health care, even those with insurance, report finds

October 28, 2023
Tech layoffs in Southeast Asia mount as unprofitable startups seek to extend their runways

Tech layoffs in Southeast Asia mount as unprofitable startups seek to extend their runways

5
Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

Contact lens maker faces lawsuit after woman said the product resulted in her losing an eye

5
Why Cristiano Ronaldo’s move to Saudi Arabia means so much for the Gulf monarchy’s sporting ambitions | CNN

Why Cristiano Ronaldo’s move to Saudi Arabia means so much for the Gulf monarchy’s sporting ambitions | CNN

3
Georgia realtor receives invitation to play the Masters by mistake | CNN

Georgia realtor receives invitation to play the Masters by mistake | CNN

1
Delta shares jump 11% after airline reinstates 2025 profit outlook as CEO says bookings stabilized

Delta shares jump 11% after airline reinstates 2025 profit outlook as CEO says bookings stabilized

July 10, 2025
Amazon warehouse workers lose jobs after Trump’s immigration crackdown: ‘We have done everything legally’

Amazon warehouse workers lose jobs after Trump’s immigration crackdown: ‘We have done everything legally’

July 10, 2025
Last Crash Before The Surge: Why Bitcoin Is Set To Drop Below 7,000

Last Crash Before The Surge: Why Bitcoin Is Set To Drop Below $107,000

July 10, 2025
Delta passengers stranded overnight on island in the middle of Atlantic Ocean

Delta passengers stranded overnight on island in the middle of Atlantic Ocean

July 10, 2025

Recent News

Delta shares jump 11% after airline reinstates 2025 profit outlook as CEO says bookings stabilized

Delta shares jump 11% after airline reinstates 2025 profit outlook as CEO says bookings stabilized

July 10, 2025
Amazon warehouse workers lose jobs after Trump’s immigration crackdown: ‘We have done everything legally’

Amazon warehouse workers lose jobs after Trump’s immigration crackdown: ‘We have done everything legally’

July 10, 2025
Last Crash Before The Surge: Why Bitcoin Is Set To Drop Below 7,000

Last Crash Before The Surge: Why Bitcoin Is Set To Drop Below $107,000

July 10, 2025
Delta passengers stranded overnight on island in the middle of Atlantic Ocean

Delta passengers stranded overnight on island in the middle of Atlantic Ocean

July 10, 2025

We bring the latest news from all over the world and get all time updated you

Follow Us

Browse by Category

  • Business
  • Crypto News
  • Finance
  • Health
  • Politics
  • Sports
  • Stock
  • Tech
  • Travel
  • Uncategorized

Recent News

Delta shares jump 11% after airline reinstates 2025 profit outlook as CEO says bookings stabilized

Delta shares jump 11% after airline reinstates 2025 profit outlook as CEO says bookings stabilized

July 10, 2025
Amazon warehouse workers lose jobs after Trump’s immigration crackdown: ‘We have done everything legally’

Amazon warehouse workers lose jobs after Trump’s immigration crackdown: ‘We have done everything legally’

July 10, 2025
No Result
View All Result
  • Home 1
  • Privacy Policy

© 2024 LSD News title="Jegtheme">Jegtheme.