Includes information on average tariff rates and types that U.S. firms should be aware of when exporting to the market.
Includes information on average tariff rates and types that U.S. firms should be aware of when exporting to Colombia.
Most of Colombia’s duties have been consolidated into three tariff levels: zero percent to five percent on capital goods, industrial goods, and raw materials not produced in Colombia; ten percent on manufactured goods, with some exceptions; and 15 percent to 20 percent on consumer and “sensitive” goods. According to the WTO, Colombia’s simple average on most favored nation (MFN) applied tariff rate in 2020 was 5.8 percent, 14.3 percent for agricultural goods, and 4.7 percent for non-agricultural goods.
About 80 percent of U.S. exports of consumer and industrial products to Colombia became duty free immediately on May 15, 2012, when the U.S.-Colombia Trade Promotion Agreement (TPA) entered into effect:
For remaining products, the tariffs will be phased out over ten years. With average tariffs on U.S. industrial exports ranging from 7.4 to 14.6 percent, this has substantially increased U.S. exports.
Key U.S. exports gained immediate duty-free access to Colombia, including almost all products in the following sectors: agriculture, construction equipment, aircraft and parts, auto parts, fertilizers and agro-chemicals, information technology equipment, medical and scientific equipment, and wood.
Many agricultural commodities also benefit from the Agreement, as more than half of current U.S. farm exports to Colombia became duty-free immediately, and virtually all remaining tariffs will be eliminated within 15 years. Colombia immediately eliminated duties on wheat, barley, soybeans, soybean meal and flour, high-quality beef, bacon, almost all fruit and vegetable products, wheat, peanuts, whey, cotton, and the vast majority of processed products. The Agreement also provides duty-free tariff rate quotas (TRQ) on standard beef, chicken leg quarters, dairy products, corn, sorghum, animal feeds, rice, and soybean oil.
In March 2012, Colombia joined the WTO Information Technology Agreement, under which Members eliminate tariffs on an MFN basis for a wide range of information technology products.