Colombo, April 4 — Sri Lanka’s Minister of Industries, Sunil Handunnetti, has expressed strong concern over the 44% tax imposed by the United States on Sri Lankan exports, calling it an unfair and untimely burden on the island nation’s economy.
Speaking to journalists earlier today, Minister Handunnetti stated, “We cannot bear this tax. It is a shock to us. We have no reason to face such a decision.”
The Minister emphasized that Sri Lanka is currently focused on stabilizing its economy, with particular attention on boosting domestic industries and increasing export revenue. “We have a goal of increasing our local industrial output by $3 billion this year. A move like this severely affects that ambition,” he said.
He further criticized the method by which the 44% figure was calculated, describing it as “especially unfair.” According to the Minister, the U.S. has based its tax on a misrepresentation of the trade balance between the two countries.
“We currently enjoy a trade surplus with the United States. But to divide that surplus in half and impose such a significant tax on us is not justifiable,” Handunnetti explained.
Despite the setback, the Minister said the Sri Lankan government is open to dialogue with U.S. authorities in hopes of finding a resolution. “We believe there is no political reason behind this decision, and we are hopeful that discussions will lead to a fairer outcome.”
Handunnetti also noted the broader implications of the tax, not just for Sri Lanka but for American consumers as well. “The U.S. middle class is not made up of billionaires like Mr. Trump. This kind of taxation ultimately affects their purchasing power too.”
The Sri Lankan government is expected to formally address the issue through diplomatic channels in the coming weeks.
