THE IMPACT OF U.S. RECIPROCAL TARIFFS ON SRI LANKA’S FISHERIES TRADE
Aruna Maheepala - 15 th April 2025 The recent revival of the United States (U.S.)' "reciprocal tariff" policy marks a significant shift in global trade dynamics (ANI, 2025). President Donald Trump’s first term also marked the U.S. shift toward an “America First” trade policy, rooted in economic nationalism and the belief that trade is a zero-sum game where the U.S. Under this policy, the US aims to impose tariffs equivalent to those levied by its trading partners on American goods (Sheldon et al., 2018). The core idea is that the U,S should impose tariffs on imports from countries that maintain higher tariffs on U.S. goods, thereby creating symmetry or reciprocity in trade duties (The White House, 2025). This policy is seen as a response to years of trade deficits and domestic political pressure to protect American industries and jobs (Adam S. Hersh and Josh Bivens, 2025). U,S imposed a 44% reciprocal import tariff on Sri Lankan goods, making Sri Lanka one of the most...