Sri Lanka will continue talks with Washington for further reduction in tariffs, after US President Donald Trump imposed a lower-than-proposed 30% levy on the South Asian nation.

Distress is in store for Sri Lanka's garments sector if the island nation is unable to clinch a tariff lower than the 30% figure U.S. President Donald Trump has clamped on imports from Colombo, a top industry body warned on Thursday.

Sri Lanka would continue to engage with the US for a “mutually beneficial” outcome on tariffs, a top finance ministry official said on Thursday, after Washington imposed a 30 per cent tariff on all Sri Lankan imports to the country.

COLOMBO: Sri Lanka expects to continue negotiations with the US after President Donald Trump's decision to reduce tariffs on the island nation is seen as a "good start" by Colombo which had primarily negotiated to preserve its competitive advantage,

For four countries, the tariff rates announced Wednesday are below their April 2 levels, while three countries will see an increase — with Brazil hit hard, in particular.

U.S. President Donald Trump has added Sri Lanka to his growing list of trade targets, issuing a letter on Wednesday announcing a new 30% tariff on all imported goods from Sri Lanka. ..

President Trump is again amping up his trade threats, unveiling a new batch of letters to country leaders outlining tariffs on goods imported from their countries beginning in August. Trump on Wednesday posted to social media six letters,

Sri Lanka’s economy could face a significant blow, with the Free Trade Zone Manufacturers’ Association (FTZMA) yesterday cautioning that the proposed tariffs by US President Donald Trump may trigger the loss of up to 50,