US Edition
Ecuador to Increase Tariff on Colombian Goods to 50% From March
Ecuador raises tariffs to protect trade balance amid border security concerns; $273 million in exports could be at risk, Ecuador's Federation of Exporters said.
- Beginning March 1, the Ecuadorian government announced it will raise tariffs on Colombian imports to 50%, according to a government statement.
- Ecuador's Ministry of Production, Foreign Trade, Investments and Fisheries said the tariff increase follows Colombia's "lack of implementation of concrete and effective measures" to secure the border, after President Daniel Noboa's administration imposed a 30% tariff earlier this year.
- Colombia responded with reciprocal measures, applying a 30% tariff to 23 categories of Ecuadorian goods; the dispute expanded as Colombian authorities suspended electricity exports and Quito raised pipeline transport fees.
- Exporters warned roughly $273 million a year in exports are at risk as some firms depend on Colombia for half their revenue, and Colombia's National Association of Financial Institutions cautioned costs could rise.
- The ministry said, `This decision responds to national security criteria, to strengthen shared responsibility in a task that must be joint: confronting the presence of drug trafficking at the border.
40 Articles
40 Articles
Ecuador’s president slams Colombia as a trade war between the neighbours escalates
Ecuador’s President Daniel Noboa called neighbouring Colombia his country’s worst trade partner Friday as he defended raising tariffs on Colombian imports by 50 per cent in an escalating trade war between the South American countries.
Associated Press News
Ecuador's president slams Colombia as a trade war between the neighbors escalates
Ecuador’s president has labeled Colombia its “worst trade partner” and defended ramping up a tariff fight over border security and cocaine flows.
Ecuador breaks off dialogue with Colombia amid trade war
The Minister of Production, Foreign Trade, and Investment, Luis Alberto Jaramillo, stated that Colombia’s measure to prohibit the entry of 30 Ecuadorian food products across the land border has severely affected exporters of rice, bananas, avocados, potatoes, and seafood. “This has affected us significantly. There should have been communication, at least, to allow time for a response and prevent the products from being held up at the border,” th…
Colombia minister to propose reciprocal tariff of 50% on some Ecuadorean goods
BOGOTA/QUITO, Feb 27 - Colombia's commerce minister Diana Marcela Morales said on Friday she will propose the government raise tariffs on certain Ecuadorean goods from a current 30% to 50%, as a trade war between the neighbors escalates. Read more at straitstimes.com.
Coverage Details
Bias Distribution
- 41% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
