Reported about 21 hours ago
Colombian investors are bracing for a significant drop in the peso following US President Donald Trump's unexpected announcement of a 25% tariff on all Colombian goods, which will escalate to 50% shortly after. The news has caught traders off guard, with potential repercussions for local bonds, currency, and equity markets. Economists are warning of a possible economic downturn in Colombia, while President Gustavo Petro has vowed to retaliate with similar tariffs on US goods. Analysts predict increased risk for investors as the country's export-heavy economy prepares for the impact.
Source: YAHOO