Colombia plans to raise tariffs on Ecuadorean goods to 50% in response to Ecuador’s trade measures, as tensions escalate over border security and pipeline fees.
Colombia said it will propose raising tariffs on certain Ecuadorean goods from 30% to 50% in response to Ecuador’s move to increase tariffs on Colombian imports from 1 March.
Commerce Minister Diana Marcela Morales said the proposal targets 73 products and may extend to others, pending government approval.
Ecuador’s President Daniel Noboa said the tariffs address Colombia’s lack of border security, which he said costs Ecuador nearly USD 400 million a year. Ecuador has a USD 1.1 billion trade deficit with Colombia.
Tensions have risen after Ecuador increased fees on Colombian crude via the SOTE pipeline by 900%, leading Colombia to halt shipments.
