BOI engages top exporters in high-level talks to tackle U.S. tariffs

The initiative aimed to open dialogue with major exporters to explore alternative strategies to safeguard export revenue and sustain Sri Lanka’s economic momentum amid global trade pressures.

Duminda Hulugamuwa, Senior Advisor to the President, also joined the discussions and outlined ongoing government efforts to mitigate the impact of the tariffs. He emphasized that Sri Lanka has already begun diplomatic engagements with U.S. trade officials, with Sri Lankan diplomats in Washington, D.C., maintaining active communication with the U.S. Trade Department.

“The groundwork for diplomatic negotiation has been laid. We are moving swiftly to ensure Sri Lanka’s case is presented clearly and strategically,” Hulugamuwa stated.

The new U.S. tariffs have affected a broad spectrum of Sri Lankan exports, prompting concerns among the country’s approximately 200 BOI-registered companies that export to the U.S. 

The U.S. remains one of Sri Lanka’s most significant export destinations, with total goods imports from Sri Lanka amounting to $3 billion in 2024, resulting in a U.S. trade deficit of approximately $2.6 billion. U.S. exports to Sri Lanka during the same period totaled just $368.2 million.

Nearly 70 countries have already approached the U.S. government to negotiate tariff-related issues through bilateral consultations. Sri Lanka now joins that growing list, seeking to reach consensus and secure fair trade terms in the face of shifting global trade policies.

The BOI confirmed that further meetings with industry stakeholders and diplomatic representatives are scheduled in the coming weeks as part of a broader strategy to protect Sri Lankan export competitiveness and ensure long-term economic resilience.