Colombia could be affected by the new dynamics of the trade war between China and the U.S.
Foto: Contenedores en Operación. Por: Puerto Lázaro Cardenas. Fuente: Wikicommons.
The United States and China announce trade measures that could impact global supply chains and have repercussions on the configuration of the world economy, including Colombia. Tensions between these countries have escalated with economic sanctions and retaliatory trade measures between them. This is mainly due to apparent alliances that Taiwan has with the United States, particularly evident in the US support for Taiwan following the sale of $440 million worth of military equipment.
As a result, the People’s Republic of China is imposing new restrictions on the exports of gallium and germanium, while President Xi Jinping advocates for international agreements to maintain the supply chain in the region. These actions could decrease international trade and affect Colombian exports, which have already suffered a decline due to the global economic slowdown. According to the National Administrative Department of Statistics (DANE), in the month of May, Colombia’s sales of goods and services reached $4.531 billion, a decrease of 2.8% compared to the previous year’s figure.
In light of this situation, the United States Treasury Secretary, Janet Yellen, will travel to Beijing in an attempt to improve trade relations between the two countries.
Top headline:
Cambio. (2023, julio 5). Colombia se verá afectada en nueva movida de la guerra comercial entre China y EE.UU.