Sri Lanka’s Ministry of Finance, Planning and Economic Development has stated that the United States’ decision to reduce its proposed additional Section 301 tariffs to 10 percent will enhance the competitiveness of Sri Lankan exporters.
The ministry views the lower tariff rate as a positive development for the country’s trade balance, particularly for sectors heavily reliant on access to the US market.
Total export earnings for the first half of 2026 surpassed US$ 9 billion, combining merchandise and services.
The comment comes as Sri Lanka’s export sector has shown signs of robust recovery.
According to data from the Export Development Board, goods and services exports expanded by more than 18 percent in May 2026, reaching US$ 1.57 billion.
This acceleration marks a significant step in the country’s post-crisis economic stabilization efforts.
Total export earnings for the first half of 2026 surpassed US$ 9 billion, combining merchandise and services.