How many products arrived via tariff quotas set by the FTA with the US?

Published 2022년 4월 5일

Tridge summary

The article provides an overview of the duty-free quota volumes imported into Colombia in the first quarter of 2022, following the Free Trade Agreements (FTAs) with the United States and the European Union. These quotas are designed to gradually protect the local economy from a surge of cheaper imports, especially in products like powdered milk. The quota for powdered milk from the US is nearly depleted, having been consumed at 90.37%, while that from the EU still has a ways to go, with 13.34% consumption. Other imported products including white corn, yellow corn, balanced feed for animals, processed dairy products, and cheese, have also benefited from these tariff exemptions. The quota for sweet corn, blueberries, and other EU vegetables and fruits was the first to be exhausted.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Almost 14,000 tons of powdered milk and 150,000 tons of white corn are some of the duty-free quota volumes that arrived in the 1st quarter of 2022. Here we tell you what other products and in what quantity have arrived in this period on behalf of the FTAs. According to the reports of tariff quotas published by the Directorate of National Taxes and Customs (DIAN), among the products with the highest percentage of consumption is powdered milk brought from the United States, since there is less than 10% left to end the quota. Following the signing of the FTAs with the US and the European Union, tariff-free quotas were established that would be gradually expanded over the years. (Read: Colombia has imported powdered milk despite the fact that the price has risen more than 40%) This mechanism was established in order to protect the national economy from the avalanche of products that would arrive imported from both powers at a lower cost and thus give the national industry time to ...

Source: MXContexto