Coffee, crude oil, cut flowers: The Colombian goods you may be paying more for under Trump’s tariffs
President Donald Trump’s newly announced tariffs on goods from Colombia could drive up the price of some items Americans buy every day.
President Donald Trump’s newly announced tariffs on goods from Colombia could drive up the price of some items Americans buy every day.
Trump said in a social media post Sunday that he would immediately impose a blanket 25% tariff on all goods coming into the U.S. from Colombia, among other sanctions. The announcement came after Colombia rebuffed a U.S. military flight of deported migrants. Trump also said that the tariffs would soar to 50% in a week.
A tariff is effectively a tax on goods when they are brought into a country. While the importing company pays the tax, the cost is often passed on to other parties in the form of higher prices, including U.S. consumers.
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Colombia is not one of the U.S.′ largest trading partners, but steep tariffs could still impact billions of dollars of economic activity. The Office of the U.S. Trade Representative puts total bilateral trade between the U.S. and Colombia at $53.5 billion annually as of 2022, with the U.S. having a trade surplus of $3.9 billion.
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