"20-pct Tariff Stands Alone" —Free Trade Zone Manufacturers Association Rules Out Additional MFN Levies

Free Trade Zone Manufacturers Association Rules Out Additional MFN Levies, Says 20-Pct Tariff Stands Alone

Dhammika Fernando, Chairman of the Free Trade Zone Manufacturers Association (FTZMA), emphasized that the new 20% U.S. tariff on Sri Lankan imports is a standalone rate and will not be added on top of existing Most-Favored-Nation (MFN) duties. “A 12% to 16% average MFN rate applied on Sri Lankan apparel earlier,” Fernando explained. “Some people […]