The Colombian Government has submitted a draft Decree to adopt tariff measures and restrictions on the entry of goods originating from Ecuador, motivated by prior trade measures adopted by that country and based on considerations of trade balance and national security.
Main measures included in the draft Decree
- Imposition of a reciprocal 30% ad valorem tariff on certain products classified under 73 tariff subheadings.
It should be noted that this measure is reciprocal to the tariff announced by Ecuador on Colombian products imported into that country.
- Restrictions on the overland entry of certain goods of Ecuadorian origin, based on the protection of national security.
These goods mainly include agricultural products such as rice, plantain, potatoes, among others, as well as materials or inputs that may be used in the manufacture of fentanyl.
The proposed measures are temporary and subject to review, depending on the assessment of their impact and the evolution of the bilateral trade relationship.