The Colombian peso can be seen this Thursday against the US dollar, reaching its highest level since March 26.
He USD/COP has opened the day testing a daily maximum at 4,153.95 but later It has fallen strongly to 4,109.25, marking a minimum of eight days.
At the time of writing, the USD/COP quotes about 4,130.88, losing 0.55% in what we have been working on.
The weakening of the dollar and the minimum imposition of 10% in tariffs to Colombia cause the rebound of Colombian peso
- The US dollar falls on all fronts, with the DXY index collapsing this Thursday to 101.27, its lowest level in six months, specifically since October 2, 2024. This strong decrease is generated by uncertainty about the future of the US economy, which could enter recession after unleashing a global commercial war.
- Colombia is in the group of countries to which the US decided yesterday to apply the minimum reciprocal tariff of 10%which propelled Colombian peso.
- He Colombian President Gustavo Petro reacted to the imposition of tariffs pointing to the social network X that It was a big mistake. Laura Sarabia, Minister of Foreign Affairs, announced that the Government will analyze the measures to be taken to protect the national industrysince rates affect coffee, flowers and potato producers, among other sectors. He also noted that the tariffs are minimal and that they represent an opportunity to expand the global presence in other countries.
FAQS tariffs
Although tariffs and taxes generate government income to finance public goods and services, they have several distinctions. Tariffs are paid in advance in the entrance port, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and companies, while tariffs are paid by importers.
There are two schools of thought among economists regarding the use of tariffs. While some argue that tariffs are necessary to protect national industries and address commercial imbalances, others see them as a harmful tool that could potentially increase long -term prices and bring to a harmful commercial war by promoting reciprocal tariffs.
During the election campaign for the presidential elections of November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy. In 2024, Mexico, China and Canada represented 42% of the total US imports in this period, Mexico stood out as the main exporter with 466.6 billion dollars, according to the US Census Office, therefore, Trump wants to focus on these three nations by imposing tariffs. It also plans to use the income generated through tariffs to reduce personal income taxes.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
