Colombia will raise tariffs on Ecuadorian imports from 30% to 100%
Colombia will raise tariffs on Ecuadorian imports from 30% to 100% in response to the neighboring country's decision to increase the "security tax" imposed by President Daniel Noboa's administration from 50% to 100%, in a new escalation of the trade war that pits them against each other. The [...]
TL;DR
- Colombia is raising tariffs on Ecuadorian imports from 30% to 100%.
- This is a response to Ecuador increasing its "security tax" to 100%.
- Colombia's Minister of Commerce cited a lack of positive response to diplomatic efforts.
- The action signifies a new escalation in the trade war between the two countries.