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Sri Lanka has secured a 10% US tariff rate under the Section 301 investigations into forced labour, placing it among 18 countries with the lowest tariff, while 42 others face 12.5%. The Joint Apparel Association Forum (JAAF) thanked President Ranil Wickremesinghe and the government for decisive action that ensured this favorable outcome. Initially, Sri Lanka was at risk of a higher tariff, which would have hurt its apparel exports. The lower rate is a major boost for the country's key export sector, enhancing competitiveness in the US market. Industry leaders say this will protect jobs and attract more orders. Article source: island.lk | Image credit: x.com
Sri Lanka has secured a 10% US tariff rate under the Section 301 investigations into forced labour, placing it among 18 countries with the lowest tariff, while 42 others face 12.5%. The Joint Apparel Association Forum (JAAF) thanked President Ranil Wickremesinghe and the government for decisive action that ensured this favorable outcome. Initially, Sri Lanka was at risk of a higher tariff, which would have hurt its apparel exports. The lower rate is a major boost for the country’s key export sector, enhancing competitiveness in the US market. Industry leaders say this will protect jobs and attract more orders.
