The Sri Lanka Chamber of Commerce has issued a statement saying that the new tariff policy of the United States of America will have a severe impact on the country’s economic stability.
The Chamber of Commerce has paid close attention to the increase in tariffs, stating that the country exports three billion dollars worth of goods to the United States of America annually, which is twenty-five percent (25%) of the country’s total export revenue.
The statement states that the increase in US tariffs will have an impact on the global market and supply chains, and that it will also have an impact on long-term businesses in Europe and America.
Moreover, it has pointed out that this could also have an impact on the monetary policy that Sri Lanka is maintaining under the International Monetary Fund program.