Ranil warns of 100,000 Job losses over US Tariffs

In a special statement delivered today, Wickremesinghe described the situation as an "economic emergency" and urged the government to act swiftly and transparently.

“As tariffs increase, consumer demand for goods declines. This is not a hypothetical situation. It is already unfolding,” he said. “One direct consequence of this will be job losses. Some estimate over 100,000 jobs are at risk. Whether the number is exactly that or slightly lower, the figure is set to rise.”

He warned that the repercussions of the tariffs would extend far beyond direct job losses, potentially affecting small businesses and service providers who rely on export-related income. “People running boarding houses, shops, and other support services will also see their income affected. This will, in turn, hurt our overall economy,” he noted.

Wickremesinghe also raised concerns over a potential drop in export revenue, which could further deteriorate Sri Lanka’s balance of payments, weaken the rupee, and hinder already fragile economic growth. “As our earnings decline, our borrowing needs will increase. The economy may slow down further, and the rupee could depreciate even more,” he cautioned.

Calling for immediate diplomatic engagement with Washington, the former President emphasized the need for urgent and transparent communication from the current administration. “The government must treat this as an emergency and clearly communicate what measures are being taken locally. Otherwise, one problem will follow another,” he said.

The statement comes as Sri Lanka continues to recover from a deep economic crisis, and the new U.S. tariff policy threatens to derail progress in key export sectors. No official response has yet been issued by the government regarding Wickremesinghe’s remarks.