News Today: Latest on Sri Lanka US tariff talks reduction update 2025

Central Bank Governor Nandalal Weerasinghe clarified today that Sri Lanka has not agreed to any deal to secure the proposed tariff reduction from 44 percent to 30 percent on exports to the United States. Speaking at a special media briefing held at the Government Information Department, he emphasized that the move reflects good faith negotiations rather than any concrete concession offered by Sri Lanka.

The Governor explained that Sri Lanka’s objective is to unlock mutual benefits through increased trade and market access for both countries. “Nothing has been agreed so far. We are in the middle of negotiations intended to bring benefits to both Sri Lanka and the US. The bottom-line is to boost bilateral trade—more exports to the US and more imports from the US,” he noted.

He elaborated on how these negotiations progress: “They might request us to relax certain regulations, and we evaluate whether we can agree or not. This is still an ongoing dialogue, and ultimately, it should lead to an agreement that benefits both sides.”

Highlighting the country’s commitment, Governor Weerasinghe added, “We have made significant progress so far and will continue engaging constructively to reach a better solution for Sri Lanka in the coming months.”

The discussions are expected to open fresh opportunities for Sri Lankan exporters, while also strengthening economic ties with the United States. By staying firm on national interests yet remaining open to dialogue, Sri Lanka aims to navigate these negotiations toward a fair outcome that supports sustainable economic growth.

The tariff reduction talks, although still in progress, are seen as a positive step in Sri Lanka’s broader strategy to expand its trade footprint globally and enhance investor confidence.