On Monday, the Committee on Foreign Trade (Comex) issued a resolution through which “safeguards” will be imposed on trade with Ecuador’s neighbors. That includes an additional 21 percent ad valorem tax on 3,098 Colombian items that already face tariffs on entry, and 7 percent on 2,339 items imported from Peru.The reactions from neighboring countries have been immediate. According to the Colombian Ministry of Commerce, Industry, and Tourism (MinComercio), the safeguards “go against the spirit of dialogue and joint work that has characterized the business relationship between the two nations.” In addition, it “ignores the fact that Ecuador and Colombia have complementary production structures.” Read more>>
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