Colombia seeks to protect its textile industry
14/11/2017
In October, business owners and workers from Colombia’s textile and manufacturing industry took to the streets to call for action to be taken. Among the measures they called for was for the tax on cheap imports from Asia to be increased. The government appears to have listened to their demands.
The Colombian ministry of industry and commerce has proposed that textiles and clothing that enter the country for a value of $10 or lower per kilo be subject to a tariff of 40%. Anything valued above $10 per kilo will continue to be subject to tax of 15%.
This change will not affect countries with which Colombia already has bilateral or free-trade agreements. They will continue to be subject to the tariff agreed when those agreements were signed.
The proposals were presented to industry stakeholders on November 2. The government hopes the new regulations will come in to force on November 17.
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