The United States has reduced the reciprocal tariff rate on goods imported from Sri Lanka to 20%.
Under this new decision, the total tariff rate, including the previously 10% tariff and other taxes, will be limited to about 30%.
Earlier, the United States had imposed a reciprocal tariff of 44% on Sri Lanka. Later, it was reduced to 30%. After lengthy negotiations, it was a victory for Sri Lanka to be able to reduce it to 20%.