A committee appointed to study the impact of U.S. President Donald Trump’s newly imposed tariffs is set to meet today (4).
Minister (Professor) Anil Jayantha stated that the committee will discuss the potential effects of these tariff policies on Sri Lanka’s economy and the necessary measures to mitigate any adverse impacts.
The Committee appointed to explore necessary measures and submit recommendations to the Government regarding the new US tariff system met with President Anura Kumara Dissanayake kast afternoon (3) at the Presidential Secretariat.
During the discussion, an in-depth review was conducted on the background and basis of these tariffs, as well as the economic challenges that small economies like Sri Lanka may face due to the imposition of high-value tariffs.
A comprehensive discussion was also held on the course of action Sri Lanka should take in response to the emerging situation and the necessary steps to be implemented moving forward.
Representing the Committee, Senior Economic Advisor to the President Duminda Hulugamuwa, Secretary to the Ministry of Finance Mahinda Siriwardana, Governor of the Central Bank Dr. Nandalal Weerasinghe, Secretary to the Ministry of Trade A. Wimalaneththiraja, Chairman of the Export Development Board Mangala Wijesinghe, Senior Director General (Bilateral) at the Ministry of Foreign Affairs Dharshana Perera, Chief Economic Policy Advisor to the Ceylon Chamber of Commerce Shiran Fernando, Group Chief Executive Officer of Brandix Ashroff Omar, Co-Founder of MAS Holdings Sharad Amalean, Managing Director of Lanka Garments Saif Jafferjee and Nilanthi Weliwe representing Michelin Lanka Pvt Ltd were present at the meeting.
Additionally, Minister of Labour and Deputy Minister of Economic Development Dr.Anil Jayantha Fernando and Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma also participated in the discussion.
Professor Anil Jayanta Fernando indicated that the committee’s recommendations will likely be presented to the President today (4), after which further steps will be taken.