Colombia “tariff ticker” debuts

The U.S. Department of Agriculture features a Colombia “tariff ticker” on its website to illustrate in money terms how the pending U.S.-Colombia Free Trade Agreement will benefit U.S. exports.  Currently, under preferential agreements, virtually all Colombian goods enter the U.S. duty-free, while U.S. exports face tariffs averaging 14 percent — and up to 80 percent for certain agricultural products, according to the U.S. Trade Representative.

The Colombia FTA will change that.  Tariffs on most U.S. products exported to Colombia would be duty-free immediately, with others phased out over ten years.

The Tariff Ticker shows that for the 524 days since the FTA was signed but not voted on by Congress, duties on U.S. exports to Colombia totaled over $988,000,000.  Those tariffs are ticking up in real time.

A graphic way to show how Congress’ deliberate delay in considering the trade pact is harming U.S. producers and businesses where it hurts.  See this and other previous posts on the FTA.