🇮🇸 Iceland vs 🇨🇴 Colombia Tariffs — Import Duty Comparison (2026)

Comparing import tariffs between Iceland and Colombia reveals key differences that can significantly impact landed costs for US importers.

Both countries face the same base tariff rate of 10% on most goods entering the United States.

These countries have largely distinct export profiles to the United States, serving different market segments.

In terms of trade volume, Iceland accounts for approximately $2B in bilateral trade with the US, compared to Colombia's $36B.

Both countries are subject to the 10% Section 122 tariff imposed on February 24, 2026, following the Supreme Court's ruling striking down IEEPA tariffs. This rate expires approximately July 24, 2026 unless Congress extends it.

Iceland's advantages include: Unique export categories: Aluminum, Fish products, Ferrosilicon. Colombia's advantages include: Trade agreement: US-Colombia TPA (duty-free on qualifying goods); Higher US trade volume ($36B vs $2B); Unique export categories: Crude oil, Coffee, Gold.

With equivalent base tariff rates, the choice between Iceland and Colombia depends primarily on product-specific duties, shipping costs, lead times, and supply chain considerations rather than the base tariff rate.