President Trump on Sunday said he was imposing large tariffs and significant sanctions on Colombia after its government refused to accept two military cargo flights carrying deported Colombians. Why it matters: The Latin American country has long been a crucial U.

Fruits and other Mexican foodstuffs typically sold in America would also grow costlier, he said, while American companies that sell crops such as corn, soybeans and rice to Mexico would take an additional economic hit if the Latin American country retaliated with tariffs of its own.

Trump, who has been in office for less than a week, pledged to slap 25% tariffs on Colombian exports, the source of one-fifth of coffee in the United States, and to raise them to 50% within a week

In a major move, Colombian President Gustavo Petro has announced the introduction of 25% tariffs on a range of imports from the United States.

The US will not go ahead with tariffs on Colombia, after Bogota agreed to accept - without restrictions - deported migrants, the White House says. Donald Trump had ordered 25% tariffs on all Colombian goods after its president barred two US military deportation flights from landing in the country on Sunday.

Visa appointments at the U.S. Embassy in Colombia have been canceled following a dispute between President Donald Trump and his Colombian counterpart Gustavo Petro over deportation flights that nearly

Hours after threatening punitive tariffs, the White House said Colombia agreed to accept deported migrants and lifted the threat of new levies.

Colombia said they would accept deportation flights carrying Colombian migrants after the Trump administration threatened to impose tariffs.