Colombia Imposes 100% Import Tax in Response to Ecuadors Tariff Hike

Colombia Raises Tariffs on Ecuador Amid Escalating Trade Dispute

The Colombian Ministry of Commerce, Industry and Tourism has announced that it will increase tariffs on goods imported from Ecuador to 100 percent, effective immediately. The move comes as tensions between the two South American nations continue to escalate.

Ecuador had previously raised its tariffs on Colombian imports to 100 percent, citing a trade deficit and accusing Colombia of not doing enough to combat drug trafficking. Colombia has denied these allegations, pointing to its own military operations aimed at intercepting illicit drugs.

The dispute between the two countries has been ongoing for several months, with Ecuador’s President Daniel Noboa clashing with Colombian President Gustavo Petro over various issues, including the imprisonment of former Ecuadorian Vice President Jorge Glas. Glas was convicted of corruption and is currently being held in Ecuador.

Colombia’s Trade Minister Diana Morales stated that her country had exhausted diplomatic efforts to resolve the dispute amicably but had not received a positive response from Ecuador. As a result, Colombia has taken countermeasures to protect its interests.

The tariff increase is expected to have significant implications for trade between the two countries and their respective economies.

Source: Al Jazeera