Colombia responds to Ecuador’s tariffs with a 30% tax on 20 products from that country
The Colombian government announced this Thursday that it will apply a 30% tax on the import of 20 products from Ecuador, a reciprocity measure to the 30% tariffs that the president of that country, Daniel Noboa, said the day before that he will impose on Colombian products due to an alleged lack of support in the fight against drug trafficking.
“The commercial relationship between Colombia and Ecuador has been built on the basis of common rules and mutual cooperation. When that framework is modified unilaterally and the previously existing conditions of trade are affected, the Colombian State has the obligation to act to correct the alteration and protect its productive apparatus, guaranteeing the balance of the exchange,” stated the Minister of Commerce, Industry and Tourism, Diana Marcela Morales.
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