The Ceylon Chamber of Commerce (CCC) has expressed deep concern over the United States’ imposition of a 44% tariff on Sri Lankan exports, warning of severe repercussions for the country’s trade and economic stability.
With the US accounting for nearly $3 billion in Sri Lankan exports—25% of total merchandise exports—the sudden tariff increase presents a major challenge to local industries. The CCC highlighted that global trade disruptions, including slowing economic growth in key markets such as the US and the EU, could further aggravate the situation.
Acknowledging the seriousness of the issue, the CCC welcomed the President’s decision to establish a committee to assess the tariff’s impact and explore mitigation strategies. Given Sri Lanka’s ongoing IMF Extended Fund Facility (EFF) programme and its constrained fiscal space, the Chamber emphasized the urgency of negotiating a reduction in these tariffs.
The statement also called on the Sri Lankan Government to reassess its own tariff structure, streamline trade facilitation, and enhance the ease of doing business. These measures, the CCC argued, are crucial for sustaining the country’s export sector and ensuring long-term economic resilience.
Reaffirming its commitment to supporting the Government, the Chamber urged stakeholders to collaborate on diplomatic and policy-driven solutions to safeguard Sri Lanka’s trade interests. With exports playing a crucial role in economic recovery, the CCC stressed the need for a coordinated and strategic response to counteract the potential economic impact of the US tariffs.
