100% Tariffs: Colombia Responds with Commercial Measure Against Ecuador
The government of Gustavo Petro announced this Friday that it will increase tariffs on Ecuadorian imports from 30% to 100% as a direct response to Ecuador's decision to raise the so-called 'security tax' imposed by President Daniel Noboa's administration from 50% to 100%, in a new phase of the trade war between the two nations.
TL;DR
- Colombia has raised import tariffs on Ecuadorian goods to 100%.
- This is a direct response to Ecuador's increase of its 'security tax' to 100%.
- Colombia claims diplomatic efforts have been exhausted.
- The trade measure aims to address perceived market imbalance and protect national producers.
- Colombia had previously filed a complaint against Ecuadorian tariffs with the Andean Community.
- The trade dispute is linked to broader tensions, including accusations of Colombia not doing enough to fight organized crime and a disagreement over the status of former Ecuadorian vice president Jorge Glas.