News Today: Sri Lanka sends high-level delegation to the US next week to negotiate new export tariffs.

In a decisive move to address the recent hike in export tariffs by the United States, a high-level delegation of Sri Lankan officials is scheduled to travel to the US next week. This visit comes in response to a significant 44 percent tariff recently imposed on Sri Lankan goods, which has raised concerns across the nation, especially considering that 25 percent of Sri Lanka’s exports are destined for the US market.

The Export Development Board Chairman and CEO, Mangala Wijesinghe, stated that President Anura Kumara Dissanayake had appointed a committee to investigate and recommend measures to mitigate the economic consequences of the US tariff decision. The committee has already submitted a detailed report to the President outlining short-, medium-, and long-term strategic solutions.

Though the new tariffs were originally set to take effect on April 9th, former US President Donald Trump announced a 90-day pause, instead introducing a general 10 percent increase across all countries. This adjustment, however, did not significantly alleviate concerns for Sri Lanka, which faces one of the highest country-specific tariff rates in the world—only behind Cambodia and Lesotho.

Wijesinghe revealed that Sri Lankan officials have already engaged in two rounds of discussions with US Embassy trade officials in Colombo. The delegation aims to secure some form of relief, citing the ongoing International Monetary Fund (IMF) programme and the looming debt repayment schedule starting in 2028.

He emphasized the importance of sustaining export momentum to ensure rapid economic recovery, stating, “We need to make progress quickly. The delegation’s visit is essential.”

As of now, the names of the officials partaking in the US mission have not been finalized. The government will make the final decision soon.