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Economic Impact of Increased American Tariffs on Sri Lanka – By Dr Harold Gunatillake An Analysis of Potential Consequences Overview of Sri Lanka – United States Trade Over the past five years, exports from Sri Lanka to the United States have experienced an annualised growth rate of 1.38%, rising from $2.78 billion in 2018 to $2.98 billion in 2023. Dominance of Apparel Exports In 2023, Sri Lanka’s top exports to the US were apparel (US$1.9 billion), followed by rubber-based products and tea. The US was Sri Lanka’s largest export market, absorbing $2.98 billion worth of Sri Lankan goods. Image Source : .businessoffashion The imposition of higher tariffs by the United States on Sri Lanka’s exported goods is poised to have significant repercussions on the island nation’s economy. As Sri Lanka relies heavily on exports for its economic sustenance, any disruption to this stream can lead to a cascade of adverse effects. ...