Colombia imposes a 30% tariff on Ecuadorian goods, trade dispute escalates

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Investing.com - Colombia has imposed a 30% retaliatory tariff on over 60 types of goods from Ecuador, further escalating the trade dispute between the two neighboring countries.

President Gustavo Petro and his senior aides signed a decree imposing tariffs on goods including sugar, fruits, and various industrial products, which has been published in the official gazette. The decree also restricts imports of products such as rice, fish, and shrimp.

This move is a response to Ecuadorian President Daniel Novoa’s tariff on Colombian imports last month. Novoa’s 30% tariff aims to push the Petro government to strengthen border security in response to the increasing drug smuggling and related violence.

Prior to the latest tariff announcement, Colombia had already stopped exporting electricity to its southern neighbor. Before Petro signed the decree, the country had also implemented its own tariff measures.

The core of this trade dispute is the border security issue raised by Ecuador, where drug trafficking and related violence are becoming increasingly rampant.

This article was translated with the assistance of artificial intelligence. For more information, please see our Terms of Use.

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