Opposition Leader blames govt inaction on US tariffs as CSE plunges
April 7, 2025 09:35 pm
Highlighting the performance of the Colombo Stock Exchange (CSE) today (07), Leader of the Opposition Sajith Premadasa claimed that Sri Lankan citizens are paying the price for the government’s unwillingness to heed the opposition’s advice regarding US reciprocal tariffs imposed on the country’s exports.
Speaking at an SJB public gathering in Dedigama, Premadasa, who highlighted that Vietnam and Cambodia initiated discussions on reducing the tariffs some time ago, criticized the Sri Lankan government’s inaction in this regard.
“The stock market crashed today. Trading was halted for some time. The United States said it will impose 44% reciprocal tariffs on Sri Lankan exports with effect from the 9th of April. If these tariffs come into effect, it will cause severe economic damage. Poverty will certainly increase”, Premadasa stressed.
Commenting further, the Opposition Leader criticized the government’s action to appoint committees to create a program to address the 44% tariffs that are coming into effect on April 09.
“My hope is that these tariffs will not come into effect”, he added.
“Ministers told the media that they appointed committees and held discussions via ‘Zoom’“, Premadasa said, stressing that instead of virtual meetings, they should hold face-to-face discussions with the US.
“Vietnam and Cambodia initiated these discussions a while ago. Why did our country fail to do so? It is because of arrogance and haughtiness, the Opposition Leader expressed.
“Government ignored our suggestions, and now it is the citizens who have to endure the consequences of the government’s actions”, he added.
