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Trump announces 44% tariffs on Sri Lanka
Donald Trump announced a sweeping new set of reciprocal tariffs on Wednesday (April 02), arguing that they would allow the United States to succeed.
Trump’s tariffs, which he imposed via executive order, are expected to send economic shockwaves around the world. The White House released a list of roughly 100 countries and the tariff rates that the US would impose in kind.
The tariffs will come into effect on different dates over the next week as follows :
- Today, 00:01 ET (05:01 BST) 25% tariff on all foreign-made automobiles
- April 5 12:01 (ET) (05:01 BST) baseline 10% tariff for all countries
- April 9 12:01 (ET) (05:01 BST) higher reciprocal rates
U.S. stock futures dropped sharply after the announcement, following weeks of volatile trading as investors speculated about how the incoming tariffs might affect the global economy, inflation and corporate earnings. U.S. stocks have erased nearly $5 trillion of value since mid-February.
In the Asian region, tariffs range from Singapore’s relatively low 10% and Philippines’ 17% to 48% on Laos and 49% on Cambodia.
34% tariffs have been imposed on China while 26% tariffs have been imposed on India.
According to the list, Sri Lanka will face 44% tariffs which will be a significant blow as 25% of Sri Lanka’s exports are sent to the US.
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03 vehicles collide at railway crossing
03 vehicles have collided at the Merawala railway crossing on the Chilaw-Colombo main road.
The accident occurred at around 6.25 a.m. this morning (May 21) when a van, which had stopped behind a fuel bowser at the Chilaw Marawala railway crossing while it was closed for train traffic, was rear-ended by a prime mover transporting cement.
The prime mover had been unable to stop due to brake failure.
The van involved in the accident sustained significant damage and Chilaw Police are currently conducting further investigations.
(Pic: Accident 1st)
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Ramith Rambukwella arrives before CIABOC
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Mahindananda seeks permission for home cooked meals
03 vehicles collide at railway crossing
Ramith Rambukwella arrives before CIABOC
