American consumers narrowly escaped dramatic increases in the cost of their morning coffee and Valentine’s Day flowers after President Donald Trump on Sunday announced, then quickly rescinded, a 25% tariff on all imports from Colombia — with plans for a whopping 50% tariff to be imposed one week later.
A brief standoff with Colombia holds important lessons for how future trade conflicts might unfold in the new Trump administration.
Trump threatened Colombia with tariffs and a travel ban. Colombia's leader wanted better treatment for deportees. They appear to have reached a compromise.
Donald Trump's plan for mass deportations of migrants from the United States is encountering its first obstacles. Colombia is the latest country to announce it will not accept planes with deportees. Earlier,
Colombia’s president said his nation would not accept flights of deported migrants. Then each country announced retaliatory tariffs.
The White House claimed victory in a showdown with Colombia over accepting flights of deported migrants from the U.S. on Sunday, hours after President Donald Trump threatened steep tariffs on imports and other sanctions on the longtime U.S. partner.
The Mexican peso depreciated in international trade after U.S President Donald Trump announced he would impose tariffs on Colombia, reviving concerns about his trade policy. The currency, one of the most liquid currencies globally,
The two nations spent much of the day in a tense standoff after President Donald Trump said the South American nation had turned away two deportation flights.
The country’s leader, Gustavo Petro, backed down after a clash with President Trump, which started when Mr. Petro turned back U.S. military planes carrying deportees.
Trump had threated to impose 25% tariffs on all imports from Colombia, which would rise to 50% in a week, unless it agreed to accept deported migrants.
US President Donald Trump announced sweeping tariffs on Colombia before abruptly pulling the threat after reaching a deal on the return of deported migrants, a move that rattled global markets in the space of several hours.