MNI China Daily Summary: Thursday, March 13

MNI BRIEF: China Has Been In Communication With U.S. On Trade

MNI BRIEF: China To Enhance Customs Clearance

MNI INTERVIEW2: Policy Lag Justifies Faster CNB Easing - Holub

MNI BRIEF: China Consumer Satisfaction Up

MNI: PBOC Net Drains CNY68.6 Bln via OMO Thursday

EZ/UK Bond Supply Calendar: SlovGB Auction Monday

US EIA:NAT GAS STORAGE -62 BCF TO 1,698 BCF MAR 07 WK

MNI: US FEB FINAL DEMAND PPI +0.0%, EX FOOD, ENERGY -0.1%

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

COLOMBIA: President Petro Backs Down Following Trump Tariff Threats

COLOMBIA
BulletEM BulletEmerging Market News
  • Headlines this weekend have been dominated by a political spat between the US and Colombian administrations. Notably, the two Presidents exchanged a war of words which initially appeared to highly escalate tensions between the two countries.
  • Trump ordered his administration to impose tariffs and sanctions on Colombia for refusing to allow military planes to return deported migrants. Trump threatened to impose an emergency 25% tariff on all Colombian goods coming into the US, which would be raised to 50% in a week, as well as travel curbs and unspecified sanctions.
  • However, the White House released a statement on Sunday night in which it said Colombia had agreed to all of its terms, and that the tariffs and sanctions President Trump had threatened would be “held in reserve.” Colombia’s foreign ministry released a statement soon afterward that said, “we have overcome the impasse with the US government.” It said the government would accept all deportation flights and “guarantee dignified conditions” for those Colombians on board.
  • With the US being Colombia's main trading partner, developments here will be eagerly monitored. BBVA note that trade with the US accounts for nearly 30% of Colombian exports (of which 52% are oil and mining, 13% flowers and 9% coffee). They add that the US is also the first source of FDI in Colombia (close to 40% of the total) and the origin of close to half of the USD10bn remittances it receives.
234 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Headlines this weekend have been dominated by a political spat between the US and Colombian administrations. Notably, the two Presidents exchanged a war of words which initially appeared to highly escalate tensions between the two countries.
  • Trump ordered his administration to impose tariffs and sanctions on Colombia for refusing to allow military planes to return deported migrants. Trump threatened to impose an emergency 25% tariff on all Colombian goods coming into the US, which would be raised to 50% in a week, as well as travel curbs and unspecified sanctions.
  • However, the White House released a statement on Sunday night in which it said Colombia had agreed to all of its terms, and that the tariffs and sanctions President Trump had threatened would be “held in reserve.” Colombia’s foreign ministry released a statement soon afterward that said, “we have overcome the impasse with the US government.” It said the government would accept all deportation flights and “guarantee dignified conditions” for those Colombians on board.
  • With the US being Colombia's main trading partner, developments here will be eagerly monitored. BBVA note that trade with the US accounts for nearly 30% of Colombian exports (of which 52% are oil and mining, 13% flowers and 9% coffee). They add that the US is also the first source of FDI in Colombia (close to 40% of the total) and the origin of close to half of the USD10bn remittances it receives.