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Trump to Hold Off on 25% Colombia Tariffs, Reaches Deal on Migrants

INTERNATIONAL 3 days ago
 In the space of several hours that rattled global markets, US President Donald Trump announced sweeping tariffs on Colombia before abruptly pulling the threat after reaching a deal on the return of deported migrants.

The White House claimed victory late on Sunday, saying Colombia had “agreed to all of President Trump’s terms” without delay, including the acceptance of deportees on US military aircraft. Colombian President Gustavo Petro had earlier refused to allow two military planes carrying deported migrants to land, objecting to the use of shackles and handcuffs on detainees.

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Colombian Foreign Affairs Minister Luis Gilberto Murillo said in a video that both countries overcame the diplomatic “impasse,” adding that the president’s airplane will be ready to bring back those Colombians who were planned to be deported back to the country Sunday.

“We will continue receiving the Colombians who return as deportees, guaranteeing them conditions of dignity,” Murillo said.

Trump’s move to quickly threaten tariffs on billions of dollars in trade in oil, cut flowers, coffee and more served as a stark reminder of his eagerness to use economic tools to achieve geopolitical goals. But his rapid U-turn also illustrated why the president faces questions about his willingness to make good on his threats.

That uncertainty left a cloud hanging over global markets even after the decision was reversed. The weekend announcement made it clear that tariffs will be the first weapon Trump turns to for policy disagreements, while the rapid resolution will do little to quell investor nerves over their usage.

The Mexican peso and South African rand led losses among emerging-market currencies as the dollar strengthened versus most of its major peers. The greenback had endured its worst week in more than a year last week as Trump refrained from immediately imposing tariffs on China and other major trading partners — moves that would favor a stronger US currency.

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