U.S. President Donald Trump speaks to the media after signing an executive order in the Oval Office of the White House in Washington, DC, January 23, 2025.
Roberto Schmidt | AFP | Getty Images
President Donald TrumpNewly announced tariffs on goods starting in Colombia could raise prices for some items Americans buy every day.
Trump is social media posts On Sunday, he will immediately impose a 25% tariff on blankets on all goods entering the United States from Colombia, among other sanctions. The announcement comes after Colombia Military flights denied for immigrants deported from US. Trump also said tariffs would surge to 50% within a week.
When tariffs are brought into a country, they effectively tax goods. Although the importing company pays the tax, the cost is often passed on to other parties in the form of higher prices, including to U.S. consumers.
Which projects will be hit?
Colombia is not one of the United States’ largest trading partners, but steep tariffs could still impact billions of dollars in economic activity. U.S. Trade Representative Office Certification total bilateral trade As of 2022, there is an annual trade surplus of $3.9 billion between the United States and Colombia of $53.5 billion.
According to Economic Complexity ObservatoryOr OEC, oil is Colombia’s largest export to the United States, accounting for approximately $6 billion in 2022.
Oil is a two-way trade between the two countries, as refined petroleum from the United States is Colombia’s largest export.
Colombia’s second-largest export is coffee, at $1.8 billion, according to OEC data. About 20% of Colombia’s coffee is shipped to the United States, making it the second largest source of imports after Brazil. U.S. Department of Agriculture.
Tariffs on coffee could squeeze Americans who already have to pay. this The price of coffee increased by 3.8% In 2024, the overall inflation rate will be higher than the rate of inflation, according to the Bureau of Labor Statistics.
Cut flowers were the third largest import from Colombia at $1.6 billion. Other items are frequently shipped from Colombia to the United States, including gold and aluminum structures.
international tensions
Colombia tariffs a ripple effect from Trump administration Crackdown on undocumented immigrants In the United States, Mexico and Brazil are among the other countries that have challenged U.S. plans to send migrants back to their previous homes.
During the campaign, Trump touted tariffs as a way to raise government revenue and force other countries to adopt U.S. policies.
“We will not allow the Colombian government to violate its legal obligations in the acceptance and return of criminals forced into the United States,” Trump said in a “Truth Society post.”
—CNBC’s Steve Instructions contributed reporting.
