COLOMBO, Sri Lanka, August 1, 2025 (ePRESS) – Sri Lanka’s export sector received a major boost as the United States further reduced tariffs on Sri Lankan goods from 30% to 20%, the Ministry of Finance announced at a press conference in Colombo on Friday.
“This is a remarkable step forward,” said Dr. Harshana Suriyapperuma, Secretary to the Ministry of Finance. “It was achieved through a combined international effort and shows strong global confidence in Sri Lanka.”
He explained that the US government’s decision was influenced by Sri Lanka’s commitment to reforms under the IMF programme, the country’s progress in good governance, digital transformation, and other positive developments.
“This reduction in US taxes will not only strengthen our export performance,” Dr. Suriyapperuma said, “but also encourage technology and knowledge transfer, opening up new opportunities for local industries.”
To attract more US investors, the government plans to cut down bureaucratic red tape and offer further investment concessions. Sri Lanka has also agreed to purchase fuel from American companies, which may help secure oil at better prices.
Dr. Suriyapperuma added that discussions with the US government will continue, with hopes of reducing tariffs even further under President Donald Trump’s administration.
“These new rates take effect from today,” he said. “Compared to other Asian nations, whose exports face equal or even higher tariffs, this gives Sri Lanka a competitive edge in the global market.”
He also noted that while Sri Lanka’s tariffs were cut, Canada’s export tariffs to the US were increased from 25% to 35%, highlighting the advantage now held by Sri Lankan exporters.
