Categories: Sri Lanka

Sri Lanka Wins Lowest US Tariff Rate: JAAF Praises Government’s Swift Action

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

News Desk

Share
Published by
News Desk

Recent Posts

TTPS Reassures Public Amid PDO Revocation and Phased Releases, Emphasizing Continued Law Enforcement and Safety Measures

TTPS Reassures Public Amid PDO Revocation and Phased Releases, Emphasizing Continued Law Enforcement and Safety

29 minutes ago

Businessman Shot Dead in Malabar After False Site Visit

Interior designer Bhyman Madhoo shot dead in his vehicle during a staged site visit in

5 hours ago

55 Undocumented Migrants Detained in Overnight Security Sweep at Curepe Recreation Club

55 Undocumented Migrants Detained in Overnight Security Sweep at Curepe Recreation Club

5 hours ago

Government Revives ZOSO Bill After Earlier Defeat in the Senate

Government to Bring Back ZOSO Bill After Failing to Secure Senate Support Earlier This Year

7 hours ago

Heavy Rainfall and Thunderstorms Expected Across Trinidad and Tobago Today

Trinidad and Tobago brace for heavy rain and thunderstorms as the Intertropical Convergence Zone moves

8 hours ago

65th Birthday Honours Trinidad and Tobago’s Veteran Leader Pennelope Beckles‑Robinson

Celebrating 65 years of leadership: Pennelope Beckles‑Robinson’s birthday marks a legacy of public service.

16 hours ago
Click to listen highlighted text!