US President Donald Trump announced sweeping tariffs on Colombia before abruptly pulling the threat after reaching a deal on the return of deported migrants, a move that rattled global markets in the space of several hours.

US President Donald Trump announces tariffs and visa restrictions on Colombia after the rejection of deportation flights, citing national security concerns.

President Donald Trump appeared to win Sunday’s showdown with Colombia, after Colombia appeared to accept military flights carrying deportees. But the faceoff could herald more conflict.