Andean trade bloc orders Colombia, Ecuador to lift trade curbs
By Alexandra Valencia and Nelson Bocanegra
QUITO/BOGOTA, May 8 (Reuters) – The Andean Community trade bloc has ordered Colombia and Ecuador to lift all measures restricting trade between the two countries, after each raised tariffs on the other.
The Community ruled on the two countries’ requests on Thursday after Ecuador increased tariffs on imports from Colombia to 100%, prompting Colombia to retaliate with gradual tariff increases “up to 75%” on certain products.
The multilateral body gave the two countries 10 working days to withdraw the measures in place.
“I have no problem removing tariffs on Ecuadorian products in the same way and in the same timeline as they were imposed,” Colombian President Gustavo Petro said in a message on X.
Ecuador’s Foreign Ministry said it was analyzing the resolution.
Ecuadorian President Daniel Noboa imposed tariffs on Colombian imports earlier this year, including electricity and medicine, eventually raising them to 100% as of May 1, arguing that his larger neighbor was not doing enough to combat drug trafficking along their shared 590 km (360 mile) border and citing a trade deficit.
Petro denied the accusations. His government responded by suspending electricity exports and formalizing differentiated tariffs of 35%, 50% and 75% on around 190 Ecuadorian products last week.
(Reporting by Alexandra Valencia and Nelson Bocanegra; editing by Susan Fenton, Chizu Nomiyama and Daina Beth Solomon)
