In its bid to retain access to the U.S. market in the wake of reciprocal tarrifs, Sri Lanka has proposed to do away with para tarrifs on imports from the U.S.
U.S. President Donald Trump slapped reciprocal tarrifs on imports including 44 percent on Sri Lankan products.
Later, he introduced a 90 day pause on such tarrifs except for those coming from China. The Sri Lankan government is currently in the process of exploring ways and means to get redress from the U.S.authorities. The government also had an all party meeting before New Year to explore a common approach to deal with the matter.
The government, in the meantime, has proposed to scrap para tarrifs on imports from the U.S. in its attempt to get President Trump’s reciprocal tarrifs reduced.
Also, the government is exploring the possibility of importing fuel from the U.S. companies to reduce the bilateral trade gap which is highly in favour of Sri Lanka.
Sri Lanka export items valued US $ 3 billion the U.S. annually whereas its import volume from that country is only over US $ 300 million.
Daily Mirror learns that a top government delegation will visit Washington DC later this month to attend the spring meetings of the World Bank and the International Monetary Fund (IMF ), and on the sidelines of these events, it will seek discussions with the U.S. authorities on the tarrifs issue.
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