Sri Lanka's sovereign bonds slide after 44% U.S. tariff - Tradeweb
Sri Lanka's sovereign dollar bonds slid more than 2 cents on Thursday, Tradeweb data showed, after the United States announced a 44% reciprocal tariff. The country's 2035 maturity fell the most, shedding 2.1 cents to be bid at 64.92 cents on the dollar.
- https://www.tradingview.com/news/re...ign-bonds-slide-after-44-u-s-tariff-tradeweb/
Sri Lanka export company stocks slump on Trump tariff
ECONOMYNEXT – Sri Lanka’s export sector firms plunged on Wednesday after the US announced 44 percent ‘reciprocal’ tariff on Sri Lanka.
Apparel is the island’s largest export to the US, followed by gloves, tyres, and coconut products.
Listed apparel stocks were trading down in mid-day trade.
Hela Apparel Holdings was trading down 8.11% at 3.40 rupees.
Hayleys Fabric was trading down 11.46% at 42.50 rupees.
Teejay Lanka was trading down 9.06 at 46.20 rupees.
Haycarb, an activate carbon producer, was trading down 5.31% at 78.50 rupees
Hayleys Fibre, a coconut product exporter was trading down 5.15% at 46.00 rupees.
Dipped Products, a glove exporter, was trading down 7.53% at 52.80 rupees.
The United states is Sri Lanka’s largest export market for apparels generating 1,916.6 million US dollars in 2024, according to the country’s Export Development Board.
The US reciprocal tariff was announced on Wednesday affecting “all countries”.
Sri Lanka stocks were trading down at 2.06 percent, 329.91 points to 15,677.53 on midday trading in Thursday.
Other exporters were also down. (Colombo/Apr03/2025)
- https://economynext.com/sri-lanka-export-company-stocks-slump-on-trump-tariff-213167/
Sri Lanka rupee likely to be under pressure on Trump’s tariff hike: Dealers
ECONOMYNEXT – Sri Lanka’s rupee currency could be under downward pressure due to the U.S. President Donald Trump’s reciprocal tariff hike decision, currency dealers said.
US President Donald Trump imposed a 44 percent tax on Sri Lanka in an executive order in which he claimed as discounted reciprocal of about half the taxes and barriers imposed by the island on America.
Sri Lanka’s ‘reciprocal discounted tax’ is half of a deemed 88 percent in taxes charged on US products, according to a post by Trump on his Truthsocial.com social media site.
“If Sri Lanka doesn’t negotiate for a better solution, the rupee could be under depreciation pressure,” a currency dealer told EconomyNext.
There could be bigger impact is if Sri Lanka does not negotiate properly because unlike China and India, US has been a country with a trade surplus. High tariff means, there is a possibility of we getting lower dollar inflow, he said.
“Rupee is down today because of knee jerk reaction by some banks which covered short positions. There is hardly any importer demand for dollars these days.”
“People are still waiting for clarity from Trump administration to assess the impact on the rupee.”
- https://economynext.com/sri-lanka-r...ressure-on-trumps-tariff-hike-dealers-213201/
