Minister of Labour and Deputy Minister of Economic Development Anil Jayantha said that the proposed reduction of tariffs to 20% under ongoing trade negotiations between Sri Lanka and the United States has not yet been finalised.
Speaking during an interview with a private television network, the Minister said discussions remain underway and are currently in their second phase.
“From 44% to 30% was the first phase, and now we have entered the second phase of reducing it further to 20%,” he noted, adding that no official agreement has been reached thus far.
Jayantha noted that while a joint statement is expected at the conclusion of this phase, it will merely lay the groundwork for a more comprehensive trade agreement.
Details surrounding Sri Lanka’s possible trade concessions or commitments to the US remain undisclosed.
In contrast, other countries in the region, such as Bangladesh and Vietnam, have already implemented concessions. Bangladesh has agreed to import commodities like corn and LNG from the US, and Vietnam has lifted certain tariffs.
Minister Jayantha emphasized that while progress is evident, the proposed 20% tariff remains a subject of negotiation.
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