The government of Sri Lanka should grant zero-tariff access to products from the United States immediately, according to New Democratic Front (NDF) Member of Parliament Ravi Karunanayake.
Speaking in Parliament today, MP Ravi Karunanayake said with uncertainty surrounding reciprocal tariffs imposed by US President Donald Trump, the government must act proactively to ensure Sri Lankan exporters can compete with other regional competitors to access the US market.
MP Karunanayake noted that Sri Lanka’s access to the US market is around USD 3.1 billion while the country imports approximately USD 300 million worth of products.
He said therefore Sri Lanka can afford to prove zero-tariff access to US exports.
MP Ravi Karunanayake stressed on the importance of taking steps to reduce the announced 30% reciprocal tariff on Sri Lankan products before the White House finalizes the rates that are due to take effect on August 1.
He said instead of contemplating further on the matter, the government should announce that it will provide zero-tariff access to US exports from tomorrow.
The Parliamentarian also urged the government to take stringent steps and ensure Sri Lanka does not lose the Generalized Scheme of Preferences (GSP) Plus trade concession offered by the European Union.
