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QUITO, May 8 (Reuters) – The Andean Community trade bloc ordered Colombia and Ecuador to \u200clift all measures restricting trade between the \u200ctwo countries, the entity said late on Thursday.<\/p>\n
The Community ruled \u200bon requests from both nations after Ecuador raised tariffs on imports from Colombia to 100%, prompting a retaliatory response from Colombia, which imposed phased tariff \u200chikes of up \u2060to 75% on some goods.<\/p>\n
The multilateral body gave the two countries 10 business \u2060days to withdraw the measures in place.<\/p>\n
Earlier this year, Ecuador\u2019s President Daniel Noboa imposed tariffs on Colombian \u200bimports, including \u200belectricity and medicines. \u200bHe eventually raising tariffs \u200cto 100% as of May 1, arguing that his neighbor was not doing enough to combat drug trafficking along their roughly 586-km (364 miles) shared border and citing a wide trade deficit.<\/p>\n
Colombian President \u200cGustavo Petro rejected the accusations. \u200bHis government responded by suspending \u200belectricity exports and \u200blast week formalizing differentiated tariffs of \u200c35%, 50% and 75% on \u200baround 190 \u200bEcuadorian products.<\/p>\n
Colombia’s government did not immediately respond to a request for comment. Ecuador’s foreign ministry said \u200bit was analyzing \u200cthe resolution.<\/p>\n
(Reporting by Alexandra Valencia and Nelson \u200bBocanegra; Editing by Susan Fenton, Chizu Nomiyama \u200band Daina Beth Solomon)<\/p>\n<\/p><\/div>\n