Colombia Matches Ecuador's Tariff Hike with 100% Import Duties Amid Rising Tensions
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Bogotá, April 11 (NationPress) The Colombian trade ministry has announced a significant increase in tariffs on imports from Ecuador, raising them to 100 percent from 30 percent. This action is a direct response to a similar move by Quito, intensifying the ongoing tensions between the two nations.
Trade Minister Diana Morales stated on Friday that Ecuador's decision to escalate its tariffs from 50 percent to 100 percent compelled Colombia to implement this adjustment, claiming that the Quito measure disrupts competitive balance and negatively impacts producers in both countries.
The implementation of this new tariff structure will commence immediately. Morales emphasized that Colombia had made attempts to engage in dialogue with Ecuador, but unfortunately, those efforts have not yielded any constructive responses.
"We have thoroughly exhausted our diplomatic options and maintained open lines of communication with the Ecuadorian government, hoping to find a mutually beneficial resolution for our nations and the communities bordering each side," she remarked.
"Sadly, we have not been met with a favorable reply. Thus, we find it necessary to revise our tariff strategy to align with Ecuador's latest rate," she continued, adding that the Colombian government plans to provide support for affected businesses through measures such as credit lines and enhanced financing access.
Recently, Ecuador has increased tariffs on Colombia, citing a trade deficit and alleging Colombia's inadequate efforts in combating drug trafficking along their shared border, a claim Colombia disputes.
Additionally, tensions have flared over comments made by Colombian President Gustavo Petro, who suggested that Ecuador's former Vice President Jorge Glas is unjustly imprisoned as a political prisoner and called for his release, as reported by Xinhua.
This rise in tensions between Ecuador and Colombia coincides with the final months of Petro’s presidency. Elected in 2022, Petro stands as Colombia's first left-leaning president and has a history as a former rebel involved in the nation's lengthy armed conflict.