Discussions Underway to Reduce U.S. Tariff Rate – Deputy Minister Susil Ranasinghe

COLOMBO (News 1st): Deputy Minister of Lands and Irrigation Susil Ranasinghe says that discussions are ongoing to reduce the reciprocal tariff percentage imposed by the United States on Sri Lanka,.

The Deputy Minister said that alternative measures are also being considered to address this matter.

He noted that, through the efforts of the President, the Finance Minister, and the negotiating team, Sri Lanka has already managed to bring the tariff down from 44% to 30%.

He added that discussions are continuing with the aim of further reducing this 30% rate.

The Deputy Minister also stated that narrowing the trade gap between the United States and Sri Lanka is a key factor in these talks. 

He pointed out that purchasing crude oil from the United States could help reduce this trade imbalance, which in turn could support further tariff reductions.

He further remarked that such measures require sound political judgment and leadership committed to working in the national interest. 

He expressed confidence that, through these alternative strategies, Sri Lanka will be able to successfully overcome this challenge.