Government announcements regarding tariffs and trade policy in Colombia have raised the risk and uncertainty for exporters due to the implications of not reviewing with a magnifying glass and determining those directly involved in the country’s tariff proposals.
(Colombian trade, at risk due to possible recession in the US).
In recent days, with the approval of the National Development Plan, the Petro Government included article 210 which proposes “promote the commercial defense of the Nation through a policy of commercial remedies and intelligent tariffs”, in order to achieve a balance in the conditions of competition for national production, compared to imports.
In addition to this measure, the renegotiation, if necessary, of the Agreements for the Promotion and Reciprocal Protection of Investments (Appri) was added. The Minister of Commerce, Industry and Tourism, Germán Umaña, assured that these agreements have some clauses that created legal imbalances, and also stated that the country has trade defense measures, such as tariffs, which will be used as necessary. .
“It is not that tariffs are going to go up or down, but now there will be more agile mechanisms for decision-making, when necessary”explained the head of the portfolio.
The trade sector has expressed concern about the measures being taken, stating that there is a risk of losing bilateral agreements with the countries involved.
(These are the dates that would boost Colombian exports).
It should be noted that during the first quarter of 2023, according to Dane calculations, total imports in Colombia totaled US$16,445 million, being -13.2% less than those of the same period in 2022 (US$18,941 million).. According to the entity’s data, in addition to oil and its derivatives, non-mining-energy products are the most imported and exported each month.
Returning to the discussion of the possible implications that trade policies would bring to the country, Javier Díaz, president of the Foreign Trade Association (Analdex), in conversation with Portafolio explained that the announcements by the Minister of Commerce are worrisome, taking into account Keep in mind that they may be policies that you agree with, however, there is a risk that they may be interpreted in different ways.
“Since we saw the PND, we warned that we did not like that smart tariff article because Colombia already has mechanisms to protect its national production. It has safeguard policies in antidumping and countervailing duties. The question we have is what else do we want? assured.
(Banana growers and flower growers, on alert for narcotics in their shipments).
Now, from the sectoral perspective, María Claudia Lacouture, president of the Colombian American Chamber of Commerce (AmCham), explained that there are some variables that generate uncertainty in US investment, such as the issue of smart tariffs and changing conditions. in investment agreements.
“In that there are actions that generate a process of uncertainty, knowledge and adaptation. The renegotiation of the agreements generates more losses than benefits, the investment climate would become more complex, and the caution with which investors proceed today, who could start looking at other nations, would increase.” assured.
On the other hand, Javier Díaz, president of Analdex, indicated that the negotiations with China and Asia Pacific are a policy option that should be supported. However, “A commercial diplomatic offensive with China is important. President Petro is going to meet with this country and I believe that the letter of introduction should not be that tariffs are going to be raised, if we start from the basis that the Government wants to protect the national producer with the countries that have an agreement. So who is left, China. If that is what is going to be presented, I think it should be reconsidered “he concluded.
DIANA K. RODRIGUEZ T.
