Summary
Ecuador will increase tariffs on imports from Colombia from 30% to 50% starting March 1. This decision is part of ongoing tensions between the two countries over trade and border security issues. Ecuador's President Daniel Noboa has expressed concerns about organized crime and narcotics trafficking linked to Colombia.
Key Facts
- Ecuador is raising tariffs on Colombian imports to 50%, effective March 1.
- The decision follows an earlier 30% tariff introduced in February.
- Ecuador's President Daniel Noboa is pressing Colombia's President Gustavo Petro on border security concerns.
- Ecuador and Colombia have a shared land border of about 586 kilometers (364 miles).
- Ecuador's trade deficit with Colombia is approximately $1.03 billion, excluding oil.
- Ecuador imports significant amounts of medicines and pesticides from Colombia.
- Colombia suspended electricity sales to Ecuador as a response to the tariffs.
- Tensions over oil transport fees have escalated, with Ecuador increasing the cost for Colombian crude oil transport by 900%.
- Ecuador has experienced increased violence, linked to organized crime, since the COVID-19 pandemic began.
