Ecuador will increase Colombian import tariffs from 30% to 50% starting March 1st

TL;DR

Ecuador is increasing import tariffs on Colombian products from 30% to 50% starting March 1st.
The Ecuadorian government cites a lack of concrete security measures by Colombia along the border and in combating narcotrafficking.
This tariff increase is referred to as a "security tax" by Ecuador.
Colombia previously imposed similar tariffs on 23 categories of Ecuadorian products.
The trade dispute began in January when Ecuador first announced its "security tax".
Ecuadorian exports to Colombia are estimated to be impacted by approximately $5.25 million weekly, about one-third of Ecuador's total sales to the market.

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