Capital Economy, Business and Finance
Both sides backed down last night in a confrontation between the US and Colombia over migrant deportation flights.
President Trump threatened immediate tariffs after Bogotá refused to let two US military aircraft carrying deported migrants land, forcing them to turn round mid-flight.
Legal Colombian exports to the US aren't worth much at about $14 billion a year, but a lot of that is coffee, creating the possibility of rising coffee prices in the US as a result of tariffs that were to rise to 50 per cent in a week.
Colombia's President Gustavo Petro, who has now said he'll accept the flights, said migrants weren't criminals and should be treated "with the dignity that a human being deserves".
Worth noting: Colombia didn't turn back 475 deportation flights dispatched by the US during the Biden administration.
