Trade Tensions Escalate Between Colombia and Ecuador Amid Tariff Clash

Colombia imposes a 30% tariff on Ecuadorian products and halts energy exports following reciprocal measures by Ecuador. The tension stems from Ecuador's trade deficit claims and lack of border security reciprocity. The situation threatens economic stability with business leaders urging diplomatic resolutions.

Colombia has retaliated against Ecuador by introducing a 30% tax on Ecuadorian goods and suspending energy exports. This move follows Ecuador's similar tariff, exacerbating trade tensions between the neighbors.

The escalation comes after Ecuadorian President Daniel Noboa cited a significant trade imbalance and inadequate border security efforts from Colombia, a claim Colombia counters with surprise, asserting ongoing bilateral cooperation in security and trade.

Business sectors in both nations warn of impending economic consequences if diplomatic solutions aren't reached, as Colombia's energy minister underscores past cooperation during Ecuador's energy crises while branding the tariffs as 'economic aggression.'

(With inputs from agencies.)