Colombia asks Trump to suspend tariffs as country reels from earthquake
Summary
Colombia’s president asked President Donald Trump to temporarily stop tariffs on Colombian goods after a strong earthquake caused many deaths and damage. The U.S. had raised tariffs on Colombia in July, and Colombia looks to recover economically while working closely with the U.S. on trade and security.Key Facts
- A 7.4-magnitude earthquake hit Colombia on Monday, killing at least 294 people and damaging many buildings.
- Colombia’s president, Abelardo de la Espriella, asked President Trump to temporarily pause U.S. tariffs on Colombian products to help economic recovery.
- The U.S. raised tariffs on most Colombian goods from 10% to 12.5% in late July; coffee and oil are exceptions.
- The U.S. is Colombia’s largest buyer of exports.
- President de la Espriella described his phone call with President Trump as friendly and said Colombia faces a big challenge rebuilding amid tough economic conditions.
- Colombia’s government has not yet planned to raise taxes to fund the estimated $6.4 billion needed for rebuilding.
- The U.S. recently added new tariffs on many trading partners, including Colombia, citing concerns about forced labor.
- Colombia’s president supports closer military and security ties with the U.S. and Israel to address internal conflicts.
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