Economy

The government of President Gustavo Petro had to extend the 35 percent tariff on footwear imports for three more years, when it was declared below or the same established threshold, in order to "promote the industrialization process of the footwear and thereby promoting productivity and job creation".In this way, through Decree 2632 of December 30, 2022, the measures established in Decree 2279 of 2019 were extended until December 31, 2025.(Also read: It's official: 40% tariff on imported clothing will be permanent in Colombia) Thus, the pair of shoes that continue to be imported for an FOB value less than or…

The Government extended for three more years the 35 percent tariff applied to the footwear importalthough it clarified that this measure, which will apply until December 31, 2025, does not apply to items from countries with which Colombia has current trade agreements.(Also read: It's official: more than 85 goods and services will not raise 16% of the minimum wage) The pair of shoes that continue to be imported for an FOB value less than or equal to the thresholds established between 6 and 10 dollars (depending on the type of footwear or the tariff subheading), will pay the 35 percent…

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The global economy faces "a difficult year, more difficult than the year we left behind. We expect a third of the world economy is in recession", was the warning made by the managing director of the International Monetary Fund (IMF), Kristalina Georgieva, during an interview on the US television network CBS.This would be the result of the fact that the three largest economies in the world – the United States, the European Union and China – "are slowing down simultaneously."(Also read: Why Economists Think Inflation Started Declining in 2023) In detailing the situation of these three world powers, Kristalina Georgieva…