The President of the United States, Donald Trump, has decided to postpone the imposition of tariffs and sanctions on Colombia after reaching an agreement on the return of deported migrants. The White House reported that Colombia accepted all the terms proposed by Trump, including the acceptance of all illegal foreigners returned from the United States, even on U.S. military planes.
"The South American nation accepted all the terms from President Trump, including the unconditional acceptance of all illegal foreigners from Colombia returned from the United States, even on U.S. military planes, without limitation or delay," expressed White House Press Secretary Karoline Leavitt.
Additionally, it was reported that Trump will keep the order for tariffs and sanctions unsigned unless Colombia breaches the agreement. Colombian President Gustavo Petro retweeted the White House statement after its release.
Previously, Trump had shocked global markets by ordering his administration to impose tariffs and sanctions on Colombia for refusing to allow the landing of two military planes transporting deported migrants. However, following the agreement reached, these measures were suspended.
Moreover, Secretary of State Marco Rubio announced that the issuance of visas at the U.S. embassy in Bogotá was suspended and other travel restrictions were authorized against those responsible for interfering with the flights. These measures will remain in effect until the first plane loaded with Colombian deportees is successfully returned.
Trump's abrupt tariff threat generated uncertainty in global markets, despite the quick resolution of the conflict with Colombia. Currencies of emerging markets, such as the Mexican peso and the South African rand, suffered losses while the dollar strengthened against most of its major peers.
It is important to note that the dollar had experienced a negative week the previous week due to Trump's reluctance to impose tariffs immediately on China and other important trading partners, which would favor a stronger U.S. currency.
