Ecuador agrees to meeting with Colombia to resolve tariff spat

Ecuador on Friday agreed to a meeting with neighbor Colombia to try and settle a tit-for-tat tariff war sparked by disagreement on how to deal with drug trafficking on their common border.

This week, the countries slapped reciprocal 30 percent tariffs on each other's imports, and Colombia announced a suspension of electricity sales to its neighbor. Ecuador in turn threatened a levy on all Colombian oil travelling through its majority state-owned OCP pipeline. Bogota insists the responsibility is a shared one, and proposed a meeting at the border Sunday to try and settle the dispute.

On Friday, Ecuador agreed, but Foreign Minister proposed an alternative date be found for next week.