Panama loses WTO claim to trade sanctions on Colombia

On Friday,  A World Trade Organization (WTO) panel  rejected Panama‘s claim for $210 million annual sanctions on Colombia for non-compliance with a previous ruling against tariffs on clothing, textile and footwear imposed by Bogota to target alleged “money laundering”.

Panama won a judgment at the WTO in 2016 after complaining about Colombian tariffs on textiles, clothes and shoes. Colombia, which had imposed the high tariffs because it said the goods were imported at artificially low prices in order to launder money, had until Jan. 22 2017 to comply./reuters.com

Stay updated with INFOEUROPEFX to find out the latest news about economy.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.