WASHINGTON - US President Donald Trump will hold off on imposing threatened tariffs and sanctions on Colombia after reaching a deal on the return of deported migrants, the White House said.
The South American nation “agreed to all of President Trump’s terms, including the unrestricted acceptance of all illegal aliens from Colombia returned from the United States, including on US military aircraft, without limitation or delay", White House Press Secretary Karoline Leavitt said in a statement late Sunday.
The order of tariffs and sanctions would remain unsigned “unless Colombia fails to honor this agreement", she added.
Colombian President Gustavo Petro retweeted the White House statement shortly after it was issued.
Colombian Foreign Affairs Minister Luis Gilberto Murillo said in a video that both countries overcame the diplomatic “impasse,” adding that the Andean nation would continue to receive deported nationals from the US. Murillo added that he plans to travel to Washington alongside the Colombian ambassador to the US in the coming days to follow up on the agreements between both countries.
“We will continue receiving the Colombians who return as deportees, guaranteeing them conditions of dignity,” Murillo said.
Earlier in the day, Trump rattled global markets when he ordered his administration to impose tariffs and sanctions on Colombia for refusing to allow two military planes carrying deported migrants to land. In a social media post, Trump said he would put an emergency 25% tariff on all Colombian goods coming into the US, which will be raised to 50% in a week, as well as travel curbs and unspecified sanctions.
Secretary of State Marco Rubio said on Sunday that he ordered a suspension of visa issuance at the US embassy in Bogota and authorized other travel restrictions on those responsible for interfering with the flights. Those “visa sanctions,” as well as enhanced inspections by customs officials, would remain in effect until the first planeload of Colombian deportees is successfully returned, Leavitt said.
Trump’s abrupt tariff threat 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 uncertainty 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 that would favour a stronger US currency.
