New US tariff to affect very adversely on Sri Lankan exports

The tariff newly-imposed by the US will have a very adverse effect on Sri Lankan exports, said professor of economics Priyanga Dunusinghe of Colombo University.

Competitive suppliers such as Vietnam have been imposed with lower US tariff, he noted.

An increase in prices in the US market will result in higher inflation and a decline in the buying power of consumers, he said.

As a whole, this will affect very badly on Sri Lankan exports, he said.