U.S. tariffs cost Colombia US$48M since February
Colombian exporters have been hit with around US$48 million in tariffs since the U.S. Congress decided not to renew the Andean Trade Promotion and Drug Eradication Act (ATPDEA) in February, website Portafolio.com.co reported.
Colombian exporters had borne the brunt of the tariffs while many U.S. importers have been paying the usual price, while one union member told Portafolio some importers were still not aware of the situation.
The average cost of the new tariffs is estimated at around US$16 million per month, but some businesses have arranged deals to only pay the tariff on the condition they are re-instated once a prospective renewal of the ATPDEA is signed.
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