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's opposition criticizes the government's handling of a 30% US tariff on imports, warning of job losses and economic impact. Analysts point to poor negotiations.

Sri Lanka's garment sector may face significant challenges due to a proposed 30% tariff by U.S. President Donald Trump. The country exports a substantial portion of its apparel to the U.S., making this levy a potential economic obstacle.

Sri Lanka has been identified as one of the countries to receive the highest tariff reductions from the United States among the nations involved in recent trade negotiations, Finance Ministry Secretary Harshana Suriyapperuma announced.

Sri Lanka's updated tariff was 30 percent, down from 44 percent announced in April, while the figure for Iraq was 30 percent, down from 39 percent. The Philippines, however, saw a 20 percent levy, up from 17 percent announced previously. While the ...

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.

The tariff saga escalates with a 50% tariff on Brazil and 25% on Sri Lanka, sparking global trade concerns. Geoff Dennis predicts market volatility as investors brace for economic fallout. Brazil's real plummets,

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,