He US dollar goes up on Wednesday in front of the Colombian peso after four consecutive loss days.
After reaching yesterday its best level in four months at 936.79, the Colombian peso yields land today, leading to the USD/COP still Maximum of two days at 945.41 After trying a daily minimum at 938.13.
The USD/COP quotes at the time of writing about 943.99, winning 0.18% daily.
Focus on Trump’s tariffs
- United States president Donald Trump confirmed late on Tuesday that he is Thinking about applying tariffs on copperwhich would be added to those who will be applied to aluminum and steel.
- Trump also advanced that he maintains his plans on reciprocal tariffs to other countries, among which he could find Colombiaand pointed out that the European Union will also be affected as of March 12.
- This week, the only relevant data that will be known in Colombia will be the January unemployment rate. In December, unemployment rose to 9.1% from 8.2% in November.
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 imports of US 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.
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