Highlighting the performance of the Colombo Stock Exchange (CSE) today (07 ), Leader of the Opposition Sajith Premadasa claimed that Sri Lankan residents are paying the cost for the governments objection to hearken the oppositions advice regarding United States mutual tariffs imposed on the countrys exports.Speaking at an SJB public event in Dedigama, Premadasa, who highlighted that Vietnam and Cambodia initiated conversations on reducing the tariffs a long time earlier, criticized the Sri Lankan federal governments inaction in this regard.The stock exchange crashed today.
Trading was stopped for a long time.
The United States stated it will enforce 44% reciprocal tariffs on Sri Lankan exports with effect from the 9th of April.
If these tariffs come into result, it will trigger extreme financial damage.
Poverty will definitely increase, Premadasa stressed.Commenting further, the Opposition Leader slammed the federal governments action to designate committees to produce a program to attend to the 44% tariffs that are entering into effect on April 09.
My hope is that these tariffs will not come into result, he added.Ministers informed the media that they designated committees and held discussions via Zoom, Premadasa stated, stressing that rather of virtual conferences, they must hold in person conversations with the US.Vietnam and Cambodia started these discussions a while ago.
Why did our country fail to do so? It is because of arrogance and haughtiness, the Opposition Leader expressed.Government ignored our tips, and now it is the people who have to withstand the consequences of the federal governments actions, he included.