Colombia would respond to Ecuador with a 100% tariff on its products
The Colombian government would toughen its stance against Ecuador amid the trade war that both nations are experiencing. This Friday, the minister of Commerce, Industry and Tourism announced the possibility that the country would raise the tariff on imports from that country from 30% to 100%, in response to a measure of equal magnitude adopted by the administration of President Daniel Noboa, this Thursday.
TL;DR
- Colombia is considering raising tariffs on Ecuadorian imports to 100%.
- This move is a direct response to Ecuador's decision to impose a 100% tariff on Colombian products.
- The Colombian Ministry of Commerce announced support measures for affected businesses, including financial aid and credit lines.
- Colombia has filed a complaint with the Andean Community, arguing that Ecuador's measure violates the 1969 Cartagena Agreement.
- The objective is to re-establish equitable conditions in bilateral trade.
- The measure will be evaluated by the Committee of Customs, Tariff and Foreign Trade Affairs (Triple A).