No Agreement Finalized on US Tariff Reduction for Sri Lankan Exports – President

President Anura Kumara Dissanayake clarified in Parliament today (August 7) that no agreement has been finalized or signed regarding the proposed reduction of the reciprocal tariff imposed by the United States on Sri Lankan exports to 20%.

Addressing the House, the President confirmed that while no formal agreement has been reached, discussions are currently underway with US authorities aimed at further reducing the tariff rate in the future.

“We are actively engaged in negotiations with the United States to secure better trade terms for Sri Lankan exporters,” President Dissanayake stated, adding that improving international trade partnerships remains a key priority for his administration.

Sri Lanka has been seeking to enhance market access for its export products as part of broader efforts to revive the national economy and reduce the trade deficit. The President emphasized the government’s ongoing commitment to achieving fairer trade conditions that would benefit local industries and workers.