International

Gustavo Petro announces renegotiation of the U.S.-Colombia FTA

Photo: Presidency of Colombia

August 17|

Colombian President Gustavo Petro announced on Wednesday that his government began renegotiating the Free Trade Agreement (FTA) with the United States, which has been in force for 11 years between the two countries.

During a meeting with coffee growers held in the town of Pitalito, in the department of Huila (south), Petro confirmed: “I want to publicly announce that its renegotiation (of the FTA) begins”.

The president justified the decision by the disadvantages that, as he explained, Colombia has with the United States as a result of the signing of the FTA in which sectors of national production cannot compete with those of that country.

In this sense, he argued that “If I wanted to replace that corn (in reference to the corn that Bogota imports from the U.S. and Canada) with Colombian corn, I would have 1,200,000 more jobs, that is, wealth. Why can’t I do it? Because the Free Trade Agreement with the United States, which was signed a few years ago, forbids it,” he said.

20260330_renta_mh_728x90

In his argument, the President explained that wealth is not in extraction, but in production, and that what is being experienced at the moment is the crisis of the extraction model.

For this reason, he considered that the renegotiation of NAFTA will be one of the pillars to return to that productive model, in which one of the bases will be the industrialization of agriculture, always with greater investment in human capital:

“If we are going to industrialize, we need knowledge, that means strengthening the public university, one of the priority axes of this Government”, he explained.

The President himself recalled that renegotiating the FTA with the United States was a banner during his campaign for the Presidency a year ago.

In his speech, Petro made a description of how the country’s economy has been for decades and how, as a result, “half of the Colombian economy has jobs that do not even earn the minimum wage and from this derives our social inequality, our poverty and from social inequality derives our main problems we have today, such as violence”.

20260330_renta_mh_728x90

International

Air Canada suspends JFK flights amid soaring fuel costs linked to Iran conflict

Air Canada announced on Friday that it will suspend its flights from Montreal and Toronto to New York’s John F. Kennedy International Airport from June through late October, citing rising jet fuel costs driven by the conflict involving Iran.

“Since the beginning of the conflict with Iran, some routes and less profitable flights have become economically unviable, so we are making adjustments accordingly,” the airline said in a statement.

Despite the suspension, the carrier confirmed it will continue operating 34 daily flights from six Canadian cities to New York’s LaGuardia Airport and Newark Liberty International Airport.

Air Canada expects to resume its JFK operations after October 25.

Meanwhile, Iran announced the reopening of the Strait of Hormuz amid a temporary ceasefire in the region. However, jet fuel shortages could persist even if the truce holds.

20260330_renta_mh_728x90

Fuel accounts for between 25% and 30% of operating costs for most airlines, and carriers worldwide have responded to the crisis by raising fares and suspending select routes due to safety and profitability concerns.

International

UK braces for potential CO₂ shortage amid Middle East tensions

The government of United Kingdom is preparing contingency measures amid fears of a potential shortage of carbon dioxide (CO₂), which could impact the agri-food industry if the Strait of Hormuz remains blocked due to the ongoing conflict in the Middle East, The Times reported on Thursday.

According to the newspaper, officials assessed this scenario during a recent crisis meeting aimed at evaluating the consequences of a prolonged conflict, triggered on February 28 by joint attacks from United States and Israel against Iran.

Under this scenario, CO₂ supplies—primarily a byproduct of fertilizer production using natural gas—could fall by up to 18%, affecting multiple sectors including agriculture and food production.

The gas is widely used in the slaughter of pigs and poultry, as well as in extending the shelf life of packaged foods. Breweries could also face disruptions due to reduced availability.

“I don’t want to comment on a leak, but now that the information is out there, I hope people feel reassured knowing we are working on it,” said Peter Kyle, Secretary of State for Business and Trade, in remarks to Sky News.

20260330_renta_mh_728x90

While a drop in CO₂ supply is not expected to cause major shortages in supermarkets, it could limit product variety, The Times noted, citing access to internal government documents.

To mitigate the impact, authorities are considering prioritizing CO₂ supply for critical sectors such as healthcare and civil nuclear energy, where it is used in cooling systems for blood reserves, organs, vaccines, and electricity generation. The government may also request domestic producers to increase output.

Central America

El Salvador and Paraguay approve 2026–2028 cooperation program

The governments of El Salvador and Paraguay approved the 2026–2028 Cooperation Program, which includes six joint development projects, according to Salvadoran Vice Minister of Foreign Affairs Adriana Mira.

Mira stated that El Salvador will act as the “main provider of cooperation,” contributing five initiatives focused on road infrastructure, tourism, and local development. She also noted that one of the projects will be led by the Paraguayan side, although no further details were disclosed.

The agreement was reached during the Second Meeting of the Joint Commission on Technical and Scientific Cooperation between both countries.

According to Paraguay’s Ministry of Foreign Affairs, the First Meeting of the Political Consultation and Bilateral Coordination Mechanism was also held, with the participation of Vice Minister Víctor Verdún.

In an official statement, the Paraguayan government reported that both delegations agreed to identify mechanisms to promote competitiveness, economic growth, and market access. They also committed to signing agreements related to air transport cooperation.