Ecuador-Colombia tariff war will end on Monday

Colombia announced Saturday that it will eliminate tariffs on Ecuadorian imports a day after Ecuador President Daniel Noboa announced the removal of “security” levies on Colombian products. In its statement, Colombia Foreign Ministry said it hopes to “fully restore symmetry in bilateral economic relations.” All tariffs will end on June 1, both countries said. Colombia President Gustavo Petro and Ecuador President Daniel Noboa Following its announcement, Colombia also condemned Noboa’s “interference” in Sunday’s presidential election. Noboa claimed that he made his decision following a video call with right-wing presidential candidate Abelardo de la Espriella, praising the contender’s approach to fighting crime. “The government of Colombia expresses its categorical rejection, on the one hand, of the misleading presentation of the decision to repeal the tariffs as a measure of good will by the Ecuadorian ruler,” the ministry said in the statement. “This interference by a foreign leader in the democratic process of another state constitutes a flagrant violation of the principle of non-intervention in internal affairs, a threat to national sovereignty and an attack on the democratic system.” Colombia added that Noboa was forced to rescind the tariffs following an order from the Andean Community of Nations court. “This was not an independent choice on his part,” the ministry said. Ecuador imposed tariffs on Colombian goods in January, citing a lack of border-security cooperation and rising cross-border criminal activity. Colombia responded in kind, with both countries eventually raising tariffs to as much as 100% before lowering them to 75%. Colombians vote Sunday in a race featuring leftist Iván Cepeda, De la Espriella and conservative Paloma Valencia. De la Espriella has emerged as a favorite among investors but trails Cepeda in most polls ahead of the election. While Cepeda’s policies largely align with those of Petro, De la Espriella has cited Donald Trump, El Salvador’s Nayib Bukele and Italy’s Giorgia Meloni as political inspirations. The post Ecuador-Colombia tariff war will end on Monday appeared first on CuencaHighLife.