U.S. President Donald Trump has officially decided to impose a 30% tariff on exports from Sri Lanka, according to a statement issued by the White House a short while ago.
This marks a revision from the previous tariff rate of 44% that had been in effect on Sri Lankan exports.
The new tariff structure is scheduled to take effect from August 1.
In a broader move, President Trump announced today (09) that he would be issuing updated trade letters to seven additional countries regarding tariff regulations and trade agreements.
Alongside Sri Lanka, Algeria, Iraq, and Libya will also be subjected to the same 30% tariff rate.
Meanwhile, the White House confirmed that Brunei and Moldova will face a 25% tariff, while the Philippines will be subjected to a 20% tariff.
