"Colombia's trade ministry has announced it will raise tariffs on neighbouring Ecuador to 100 percent from 30 percent, matching the rate Ecuador set a day earlier amid escalating trade and diplomatic spat."
"Ecuador has in recent months hiked tariffs against its eastern neighbour, citing a trade deficit and accusing Colombia of not doing enough to fight drug trafficking."
"Colombian Trade Minister Diana Morales explained that her country was forced to increase its tariffs in response to Ecuador's decision to spike its tariffs to 100 percent on Thursday."
Colombia's trade ministry announced a tariff increase on Ecuador to 100%, matching Ecuador's recent hike. This decision follows accusations from Ecuador regarding Colombia's drug trafficking efforts. Colombia denies these claims, citing military operations against drug trafficking. Tensions have escalated between the governments of Ecuador and Colombia, particularly over the imprisonment of former Ecuadorian Vice President Jorge Glas. Colombian Trade Minister Diana Morales stated that diplomatic efforts have been exhausted, prompting immediate counter-measures in response to Ecuador's actions.
Read at www.aljazeera.com
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