Former President Ranil Wickremesinghe has issued a stark warning that Sri Lanka could face the loss of over 100,000 jobs due to the recent trade tariff policy introduced by the United States.
Delivering a special statement today (April 16), Wickremesinghe described the situation as an economic emergency and urged the government to act swiftly and transparently to mitigate the looming crisis.
“As tariffs increase, consumer demand for goods declines. This is not a hypothetical situation—it is already unfolding,” he cautioned. “One direct consequence will be job losses. Some estimate over 100,000 jobs are at risk. Whether that number is exact or slightly lower, it is expected to rise.”
Wickremesinghe noted that the fallout would not only affect direct employees but would also ripple across the wider economy. “People running boarding houses, shops, and other support services will also see their income affected. This will, in turn, hurt our overall economy.”
He warned that a decline in export revenue could further strain Sri Lanka’s fragile balance of payments, potentially leading to a depreciating rupee and a deeper economic slowdown.
“As our earnings decline, our borrowing needs will increase. The economy may slow down further, and the rupee could depreciate even more,” he added.
Calling for urgent diplomatic engagement with Washington, the former President stressed the need for clear communication and a comprehensive response.
“The government must treat this as an emergency and clearly communicate what measures are being taken locally. Otherwise, one problem will follow another,” Wickremesinghe said.
