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 30% U.S. tariff on Sri Lankan exports is the price we pay for poor negotiation,” Opposition Leader Sajith Premadasa said in his X message. ..

For four countries, the tariff rates announced Wednesday are below their April 2 levels, while three countries will see an increase — with Brazil hit hard, in particular.

COLOMBO: Sri Lanka expects to continue negotiations with the US after President Donald Trump's decision to reduce tariffs on the island nation is seen as a "good start" by Colombo which had primarily negotiated to preserve its competitive advantage,

U.S. President Donald Trump has issued tariff letters affecting seven countries. Algeria, Iraq, Libya, and Sri Lanka face 30% tariffs, Brunei and Moldova 25%, and the Philippines 20%. This move signifies a strategic push to influence international trade relationships and recalibrate economic alliances.

Sri Lanka’s economy could face a significant blow, with the Free Trade Zone Manufacturers’ Association (FTZMA) yesterday cautioning that the proposed tariffs by US President Donald Trump may trigger the loss of up to 50,

Sri Lanka's economic outlook remains positive, but global trade policy uncertainties pose significant risks to macroeconomic and social stability, the International Monetary Fund (IMF) said on Thursday.

Charging taxes on HS Code for thousands for small parcels coming from foreign online sales platforms is not practical, and goes against modern cross-border trading that is working well in other countries,