A World Trade Organisation (WTO) panel recently rejected Panama’s claim for $210 million annual sanctions on Colombia for non-compliance with an earlier ruling against tariffs on clothing, textile and footwear imposed by the latter to target alleged ‘money laundering’. Panama won at the WTO in 2016 after complaining about Colombian tariffs on the same items.
Colombia, which had imposed the high tariffs claiming the goods were imported at artificially low prices to launder money, had until January 22, 2017, to comply, reported a global news wire. (DS)
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