The new tariff rates threatened in the letters Trump shared Wednesday are similar to those he announced on what the White House dubbed “Liberation Day” in early April.

The UK has announced tariff-free entry for Sri Lankan garments, providing a boost amid the US's 30% tariff imposition. This development is expected to benefit both the Sri Lankan garment sector and UK consumers.

Sri Lanka would continue to engage with the US for a “mutually beneficial” outcome on tariffs, a top finance ministry official said on Thursday, after Washington imposed a 30 per cent tariff on all Sri Lankan imports to the country.

Sri Lankan garment sector is set to benefit following reforms by the British government to simplify imports from developing countries like Sri Lanka

The Ceylon Chamber of Commerce yesterday described the proposed 30% tax on Sri Lankan imports to the US as opposed to 44% mooted earlier was a “significant step.” ..

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.

President Trump is again amping up his trade threats, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August. Trump on Wednesday posted to social media six letters,

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,