Trade tensions between Colombia and Ecuador have affected 90% of land movement between the countries: expert
Trade tensions between Colombia and Ecuador continue to escalate following the publication of a draft decree by the Colombian government, which increases tariffs on Ecuadorian imports from 30% to 50%. This decision is a direct response to the measure implemented by Ecuador last week, when it raised tariffs on Colombian products to 50%.
TL;DR
- Colombia has published a draft decree to increase tariffs on Ecuadorian imports.
- The proposed tariff hike for Ecuadorian goods is from 30% to 50%.
- This move is a direct response to Ecuador's recent imposition of a 50% tariff on Colombian products.
- Trade tensions between Colombia and Ecuador are escalating.