Ecuador Increases Tariffs on Colombian Imports to 50 Percent
Ecuador will raise tariffs on Colombian goods to 50 percent starting March 1. The government cited security concerns and shared border drug trafficking issues.
Xurve View
Xurve View
The government of Ecuador has announced it will increase tariffs on imports from Colombia to 50% starting March 1, up from the current 30% rate. The decision, announced by the government on Thursday, follows a month of heightened trade friction between the two South American nations. Ecuador initially imposed a 30% tariff in early February, citing a significant trade deficit and a perceived lack of cooperation from its neighbor in addressing drug trafficking along their shared border.
