Former Deputy Leader of the United National Party and Member of Parliament, Ravi Karunanayake, has called on the government to engage with the International Monetary Fund (IMF) regarding the challenges posed by import taxes imposed by the United States.
Karunanayake emphasized that the IMF should be requested to intervene in such matters—particularly those beyond Sri Lanka’s control—and assist in finding viable solutions to mitigate their impact.
He noted that countries such as South Korea, Japan, members of the European Union, Vietnam, and Israel are already in negotiations with the U.S., with some having successfully eliminated taxes on American investments.
Highlighting potential policy options, the MP stated that Sri Lanka should consider similar steps, including the imposition of a targeted import tax applicable solely to the United States. He stressed that such a move could help safeguard the national economy from further deterioration.
Karunanayake further asserted that the World Trade Organization (WTO) would not object to this approach, and that Sri Lanka has the right to revise tariff structures in response to the current economic circumstances.
