SL to negotiate US imposed 44% trade tariffs before April 9

Minister Fernando explained that while the government was aware of the tariff decision beforehand, it had awaited the official confirmation of the US policy before taking action. 

The Sri Lankan government aims to negotiate a reduction in these tariffs, emphasizing the ongoing recovery efforts under the International Monetary Fund (IMF) program and the country's economic stabilization measures.

The minister expressed concerns over the potential negative impact on Sri Lanka's textile and food export sectors, which could face significant challenges due to the new tariffs. However, 

Minister Fernando reassured that alternative options were being considered, including seeking relief through the Generalized Scheme of Preferences (GSP+) tariff system, should the negotiations fail to yield a favorable outcome.

The outcome of these talks will be closely monitored, as it could have far-reaching implications for Sri Lanka's export-oriented industries and its economic recovery.