The GSP tax concession programme provided by the United States will expire on December 31, 2017, the Us embassy said. 

The US has imported USD 2.8 billion of Sri Lankan goods in 2016.

Following the new development, the Sri Lankan  goods in the US market  will be subject to non-preferential duties. 

The decision comes  after Sri Lanka voted in favour of a resolution against the US's move to accept Jerusalem as the Israeli capital. 

In her remarks during the session, Nikki Haley, US representative to the UN, said Washington will remember the countries that did not back its administration at a critical time. 

Political observers say this could be a direct outcome of Sri Lanka's position on the resolution.