Friday, July 24 2026
Friday, July 24 2026
MONETABRIEF – Sri Lanka will be charged 10 percent duty on alleged exports of goods alledgedly made with forced labour, the US Trade Representative said, down from an original proposal of 12.5 percent following an appeal by the Indian Ocean island.
Sri Lanka lodged an appeal against the 12.5 percent tariff on July 09. The USTR said 1,600 written appeals and hearings were conducted before giving the final decision.
Pakistan and India was also given the 10 percent. Bangladesh was earlier proposed a 10 percent rate, when Sri Lanka was proposed a 12.5 percent.
The new protectionist measure comes as so-called Trump tariffs, expire after US courts struck them down. Import duties are ultimately paid by the US consumer, or the taxes are arbitraged by domestic producers, fattening their pockets at the expense of tax revenue.
The reduction was given to for countries that (i) impose a forced labor import prohibition; (ii) have committed to impose and enforce such a prohibition through an Agreement on Reciprocal Trade; or (iii) have imposed a partial regime with the effect of preventing the importation of certain forced labor goods, the USTR said.
These countries were Argentina, Bangladesh, Cambodia, Canada, Ecuador, El Salvador, Guatemala, Honduras, India, Indonesia, Jordan, Malaysia, Mexico, Pakistan, Sri Lanka, Trinidad and Tobago, and the United Kingdom.
For the European Union, Taiwan, Japan, Korea, and Switzerland were given 10 or 12.5 percent net of Most Favoured Nation rate.
All other investigated countries would be given 12.5 percent, the USTR said. (Colombo/July24/2026)
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