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flag U.S. cuts tariff on Sri Lankan imports to 20%, aiding Sri Lanka's economy and markets.

flag The U.S. has announced a reduced 20% tariff on Sri Lankan exports, effective August 7th. flag This is a significant decrease from the initial 44% tariff proposed in April. flag Sri Lankan officials and exporters welcomed the reduction, as it helps maintain competitiveness with rivals like Vietnam and Bangladesh. flag The move has positively impacted Sri Lanka's stock market and currency. flag Despite the reduction, Sri Lanka's opposition leader calls for further negotiations to reduce tariffs below 15%.

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