The Hon. Ravi Karunanayake

¶ 01 Alright, I will conclude as quickly as I can.

¶ 02 At an unexpected moment, President Trump brought in para-tariffs to “develop America.” In reciprocity, a certain tariff rate is being imposed on us. We cannot ignore it. We must present ourselves on this and act proactively. As we speak now, there is a South Korean team in the United States. A team has gone from Japan. People from EU countries are there. The Irish Prime Minister has gone. Vietnam has said it will reduce the tariff on its exports to the U.S. to zero. Israel says likewise. The ASEAN Chair, the Malaysian PM, says, “We are discussing how to establish trading partnerships.”

¶ 03 Thailand too has weighed in. As a former Finance Minister and Minister of Trade and Consumer Affairs, I say: let us use little Sri Lanka as an investment launching pad. From here, tell the U.S., “We will bring your imports from Sri Lanka to zero duty.” This is country-specific. Some will say there is the Multi-Fibre Agreement and the WTO. But the U.S., the supposed captain of free trade, with one stroke by Donald Trump, has moved to country-specific taxes. We can also do likewise under the WTO framework. We can tell them we are affected and therefore we will give this concession only to the U.S., just as others have done, using safeguards. Tell the IMF preachers that we face an uncontrollable external shock, and therefore we will chart a path that works. If they insist we increase revenues, then ask Trump to cut tariffs on us; otherwise we will zero our import duties and move forward. That is not impossible.

¶ 04 I know a committee has been appointed on this. The President has convened an all-party conference to discuss it. We value that. Let us take it forward in this country—