BOGOTA – During a Monday cabinet meeting broadcast on television, Colombian President Gustavo Petro clarified that his nation’s recently imposed 100% tariffs on imports from Ecuador will not cover every product category.
The president explained that his administration plans to implement subsidies along with what he called “smart tariffs” as part of the policy. The tariff increase came after Colombia responded to similar trade restrictions Ecuador had put in place just one day before, escalating tensions between the two South American nations.
The trade measures represent the latest development in an ongoing commercial and diplomatic conflict between Colombia and its neighboring country.
