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Speaking to reporters during a visit to Iowa to promote his economic record, Trump was asked if he was comfortable with the current value of the greenback and if he thought it had fallen too much after sliding 10% over the past year.

“I think it’s great,” Trump said of the weaker dollar. “I mean the value of the dollar, look at the business we’re doing. No, [the] dollar is doing great. You know it’s very interesting, if you look at China or Japan, I used to fight like hell with them because they always wanted to devalue their yen ... you know that, the yen and yuan, and they’d always want to devalue it. They devalue, devalue, devalue. And I said, ‘not fair.’ They devalue, because it’s hard to compete when they devalue.”

The Dollar Index, which tracks the U.S. currency against six leading trading partners (but not China), fell the most in a single day since last April 10, when it tumbled almost 2% amid mounting trade disputes and U.S. threats to impose a 145% tariff on China. That same day, the S&P 500 slid 3.5% and the Nasdaq Composite sank 4.3%.

On Tuesday, the dollar also dropped to its lowest level since February 2022.

https://www.cnbc.com/2026/01/27/dollar-worst-one-day-rout-since-april-trump-says-hasnt-fallen-too-low.html

Gustavo Petro's government criticized the enormous increase amid the trade war launched by Ecuadorian President Daniel Noboa, linked to border security reasons.

BOGOTA – The Colombian government on Tuesday rejected Ecuador's decision to increase the tariff for transporting Colombian crude oil through the Trans-Ecuadorian Pipeline System by 900% , amid growing trade tensions.

The increase in the tax was announced on Monday by Ecuador's Minister of Environment and Energy, Inés Manzano , who told local media that the rate would rise from three to 30 dollars per barrel. The measure has been in effect since January 23, according to a resolution signed that day.

“This decision by the Ecuadorian government is a new act of aggression against the people. Now they are unilaterally and arbitrarily raising the price of transporting crude oil through one of their pipelines, violating, once again, previously made commitments,” Colombian Minister of Mines and Energy Edwin Palma said in a statement.

Palma asserted that Ecuador's "retaliation" is an " opportunity" to seek solutions that will prevent such actions in the future.

“I call on the affected oil unions to be creative and, before thinking about retaliation against our people, let's think about how we can turn this situation into an opportunity to continue transporting and exporting that crude oil under different logistical conditions for the benefit of our country,” the minister said on X.

Palma asserted that while Colombia proposed a “dialogue” with its neighbor amidst the tensions, the response has been aggression, while expressing confidence that “diplomacy and frank dialogue will serve to return to normality for the benefit of our people.”

Ecuador justified the increase as a reciprocal measure to Colombia's decision to indefinitely suspend the export of electricity to Ecuador since last Friday.

Both countries have imposed mutual measures since last week, when Ecuadorian President Daniel Noboa criticized Colombia for its lack of reciprocity in protecting the binational borders – where criminal groups linked to drug trafficking operate – in addition to a trade deficit of more than $850 million with Colombia.

Donald Trump style

Amid this border dispute, the president unleashed a tariff war with Colombia similar to the one used by his US ally Donald Trump in the fight against drugs and trade objectives.

Ecuador increased tariffs on Colombian products by 30% , and Colombia responded with an equivalent tariff on dozens of Ecuadorian products, which has generated concern among business owners in both countries.

The governments have said they remain open to dialogue and the search for a diplomatic solution , although no meeting date has been set.

Colombian President Gustavo Petro, the first left-leaning president in his country, said on Saturday he was willing to talk, but on the condition that they first discuss a joint policy for controlling seaports from which drugs are trafficked.

Meanwhile, Noboa announced on Monday investments of $230 million for the purchase of military equipment and technology to combat crime on the border, given that "other countries do not show reciprocity and do not act firmly," he said in an apparent allusion to Colombia.

In an interview with a local media outlet on Tuesday, Noboa asserted that “the neglect of the (Colombian) border allowed for the expansion of drug trafficking” and specified that this situation “forced the State to invest more resources in the area.” He added that “this is not an attack on a sister country” and that “there are concrete facts: many drug traffickers have Colombian passports. We must confront organized crime together with resolve.”

In a message on X, he pointed out that dangerous criminals captured by Ecuador had “links” to Colombia. “They were all trying to replicate a business that had already worked for them in that country, but they made a mistake with Ecuador,” he wrote.

The extensive and porous border of more than 600 kilometers between Ecuador and Colombia has been used for years by illegal armed groups linked to drug trafficking, illegal mining, smuggling and human trafficking.

Ecuador has the highest homicide rate in Latin America, with a record of 52 murders per 100,000 inhabitants, according to the Organized Crime Observatory.

Noboa's message about shared responsibility in the fight against drug trafficking "is anchored in the new national security doctrine of the United States," said political analyst Wilson Benavides of the Central University.

Furthermore, it serves as "a distraction" to "blame the other side (...) because in light of the circumstances, unfortunately, the rates of insecurity and intentional homicides are not going down," he added.