Appointed by President Anura Kumara Dissanayake, the committee is composed of senior representatives of the Ministry of Finance, the Central Bank of Sri Lanka, the Board of Investment (BOI) and Export Development Board (EDB) and the Directorate of Economic Affairs of the Ministry of Foreign Affairs, the national daily Ada Derana reported.

Also Duminda Hulangamuwa, chief economic advisor to the president, Shiran Fernando, Economic Policy of the Ceylon Chamber of Commerce, and business sector figures Ashroff Omar, Sharad Amalean and Saif Jafferjee.

The Sri Lankan leader’s initiative seeks to assess the challenges arising from the US tariff adjustments and propose strategic measures to mitigate any negative impact on Sri Lanka’s economy and trade.

The committee is expected to present its findings and recommendations to the government in the coming weeks.

U.S. President Donald Trump issued an executive order imposing a 44 percent tariff on Sri Lankan goods, arguing that it is a reciprocal measure to what he described as the 88 percent in taxes and trade barriers imposed by the South Asian island on those from the U.S. territory.

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