Opposition Leader Sajith Premadasa has accused the government of failing to heed warnings from the Samagi Jana Balawegaya (SJB) months ago regarding potential US tariffs.
Premadasa expressed concern that despite the SJB’s predictions, the government dismissed the issue and did not take the necessary steps to address it.
“Today, we see the consequences of the government’s inaction,” Premadasa said. “The stock market has collapsed, and trading has halted. The USA has imposed a 44% retaliatory tax on our country’s exports, which will come into effect on the 9th. This will severely impact our export competitiveness, especially in the garment sector.”
He highlighted that 40% of garments produced under the late Ranasinghe Premadasa’s 200 Garment Factory Program are sent to the United States, stressing the vulnerability of this critical industry.
“Those who once ridiculed the program now recognize its importance. With the new tariffs, our factories will struggle to compete, leading to reduced production, falling incomes, and potential job losses,” he warned.
The Opposition Leader pointed out that the livelihoods of over 350,000 people directly employed in the garment industry, along with over a million in related jobs, are at risk. “The impact of these tariffs will be felt throughout the economy,” he said.
While Premadasa acknowledged the SJB’s role in predicting the tariff imposition, he made it clear that the party would not use the situation to incite unrest for political gain.
“We are not engaging in petty politics to create chaos for our benefit,” he said. “But if these industries collapse, the entire economy will follow suit, and we risk failing to meet our debt obligations by 2028,” he added.
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