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US tariffs : Ranil highlights remedial measures

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Former President Ranil Wickremesinghe has warned of severe economic repercussions for Sri Lanka rising from the trade war between the US and China.

In a statement, he states, “The U.S’ so-called “reciprocal” tariff and China’s retaliatory tariff on the U.S. have started a trade war. It brings to an end a globalisation and the WTO rules supporting it.”

He also adds that the “worst affected will be small countries like Sri Lanka with economies on the export of one or two commodities, with the US being a major market.”

He has noted several measures that may be considered in determining remedial action.

Full statement:

The U.S’ so-called “reciprocal” tariff and China’s retaliatory tariff on the U.S. have started a trade war. It brings to an end a globalisation and the WTO rules supporting it.

It will now lead to an uncertain period of the major economic powers, either challenging each other and/or cooperating with them. In this breakdown of the present world order, the worst affected will be small countries like Sri Lanka with economies on the export of one or two commodities, with the US being a major market.

Even after negotiations the tariffs will not return to pre-April 2nd levels. This will bring about a disruption in Sri Lanka’s exports, resulting in factory closures and large scale lay-offs, which may according to industry even be about 100,000. Similarly, the widening trade deficits will bring about a current account deficit. With the overall external trade being affected, the government will not be able to achieve the revenue estimated from duties and excise.

There is a strong possibility of political upheavals taking place due to the deteriorating economic situation, not only Sri Lanka but also in the neighbouring countries. Consideration may be given to the following measures in determining
remedial action.

1) In June 2024 the Cabinet of Ministers approved the National Tariff Policy
which was to be introduced in January 2025. With a simplified four band tariff regime (of 0%, 10%, 20% 30%) to be implemented from the 1st of January 2025. Many of the para-tariffs were to be removed, and the tariff regime was to be based on the principles of transparency, consistency and predictability. The Cabinet also approved the Trade National Single Window to be fast-tracked for implementation in 2025, addressing the non-trade barrier. So far these have not been implemented.

2) Under the proposed GSP Plus with EU, Sri Lanka together with seven countries form a duty free zone. In order to qualify for GSP Plus, we have to become parties to the following 27 conventions.

1. International Covenant on Civil and Political Rights2. International Covenant on Economic Social and Cultural Rights
3. International Convention on the Elimination of All Forms of Racial Discrimination
4. Convention on the Elimination of All Forms of Discrimination Against Women
5. Convention Against Torture and other Cruel, Inhuman or Degrading Treatment or Punishment
6. Convention on the Rights of the Child
7. Convention on the Prevention and Punishment of the Crime of Genocide
8. Minimum Age for Admission to Employment (N° 138)
9. Prohibition and Immediate Action for the Elimination of the Worst Forms of Child
Labour (N° 182)
10. Abolition of Forced Labour Convention (N° 105)
11. Forced Compulsory Labour Convention (N° 29)
12. Equal Remuneration of Men and Women Workers for Work of Equal Value
Convention (N° 100)
13. Discrimination in Respect of Employment and Occupation Convention (N° 111)
14. Freedom of Association and Protection of the Right to Organise Convention (N° 87)
15. Application of the Principles of the Right to Organise and to Bargain Collectively.
Convention (N° 98)
16. International Convention on the Suppression and Punishment of the Crime of
Apartheid
17. Montreal Protocol on Substances that deplete the Ozone Layer
18. Basel Convention on the Control of Transboundary Movements of Hazardous Wastes
and Their Disposal
19. Stockholm Convention on persistent Organic Pollutants
20. Convention on International Trade in Endangered Species
21. Convention on Biological Diversity22. Cartagena Protocol on Biosafety
23. Kyoto Protocol to the UN Framework Convention on Climate Change24. UN Single Convention on Narcotic Drugs (1961)
25. UN Convention on Psychotropic Substances (1971)26. UN Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances
(1988)
27. Mexico UN Convention Against Corruption
We are parties to many of these Conventions, if not all. Therefore, the Government must take immediate steps to negotiate with EU when they
visit Sri Lanka in May.

3) The Government must also take all steps to conclude the ECTA negotiations
with India, within 3 months so as to access the Indian markets.

4) Implement the Thailand-Sri Lanka Free Trade Agreement immediately.

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3 dead in Dunhinda bus accident 

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Three persons have died from the bus accident at Dunhinda in Badulla today (June 21), according to hospital sources.

A total of 34 individuals were injured when the bus toppled down a precipice this evening (June 21) at the 4th Mile Post area, near the Dunhinda bends on the Badulla–Mahiyanganaya road.

According to reports, the passengers were a group of pilgrims travelling from Badulla to Anuradhapura.

The injured persons have been admitted to the Badulla General Hospital. 

Police are conducting further investigations.

(Pic : Accident1st)

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11th International Day of Yoga celebrated in Colombo (Pics)

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The 11th International Day of Yoga (IDY) was celebrated with great enthusiasm by the High Commission of India in Colombo and its cultural arm, the Swami Vivekananda Cultural Centre (SVCC) in collaboration with the Ministry of Health and Ministry of Public Administration, Provincial Councils and Local Government Sri Lanka at the historic Independence Square in Colombo today (June 21).

This year’s theme, “Yoga for One Earth, One Health”, highlighted the universal relevance of yoga in fostering harmony between humans and nature.

The High Commissioner of India to Sri Lanka, H.E. Santosh Jha, joined the celebrations along with distinguished guests including Minister of Science and Technology – Dr. Chrishantha Abeysena, Minister of Labour and the Deputy Minister of Economic Development – Prof. Anil Jayantha Fernando, Deputy Speaker of the Parliament of Sri Lanka – Dr. Rizvie Salih, Deputy Minister of Defence – Major General K. P. Aruna Jayasekara, Deputy Minister of Buddhasasana, Religious and Cultural Affairs – Gamagedara Dissanayake Deputy Minister of Sports – Sugath Thilakaratna, and other senior dignitaries.
The event began with a spiritual invocation through prayers by Most Ven. Dr. Maitipe Wimalasara Nayaka Thera and the Maha Sangha, who offered blessings for peace and well-being. A dynamic and refreshing yoga and meditation session followed, conducted by experts from renowned yoga institutions in India and Sri Lanka. The event brought together hundreds of yoga enthusiasts, dignitaries, and students in a shared spirit of wellness and unity. As part of the celebrations, a specially curated Yoga Pendrive and a Sinhala translation of the Hatha Yoga Pradeepika were launched, aiming to make authentic yoga knowledge more accessible. Complementing the main event in Colombo, the Consulates in Hambantota and Jaffna, along with the Assistant High Commission in Kandy, also organized special events – reflecting the enthusiastic and widespread participation in the 11th International Day of Yoga across Sri Lanka.

In a significant prelude to the main event, the Department of Ayurveda, Ministry of Health, Government of Sri Lanka and Swami Vivekananda Cultural Centre jointly organized a landmark, island-wide celebration of the International Day of Yoga on 19 June 2025, with simultaneous yoga sessions held in 113 Ayurveda hospitals and four universities across all nine provinces – marking the first time such a nationwide initiative has been undertaken in Sri Lanka in a unified fashion.
It may be recalled that the United Nations General Assembly adopted a resolution piloted by India in 2014, proclaiming June 21 each year as the International Day of Yoga. The resolution was supported by more than 170 countries, with Sri Lanka being one of its proud co-sponsors.

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Mathews bows out of Test cricket

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Angelo Mathews ended his final Test innings today (June 21) after being dismissed during the Test match between Sri Lanka and Bangladesh at Galle International Stadium.

Mathews was dismissed after scoring just 8 runs off 45 balls after being caught by Mominul Haque. The match also ended as a draw.

Mathews retires from the longest format of the game as he made 8,214 runs from 119 Tests at an average of 44.4, with 16 centuries and 49 half-centuries to his name. 

In 2013, Angelo Mathews was handed the leadership of the Test side for the first time in his career. He also became historic as the youngest Sri Lanka player to become Test captain. 

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