Colombia truckers end strike after fuel subsidy deal

Truckers in Colombia ended a five-day road blockade after reaching an agreement with the government, announced by President Gustavo Petro. The protests were sparked by the government's decision to eliminate diesel fuel subsidies that had been in place during the COVID-19 pandemic. Truckers argued that the removal of these subsidies would severely impact their businesses, leading to widespread road blockages that raised concerns about food and supply shortages in urban areas. The government had implemented a 50-cent increase per gallon of diesel fuel, which intensified the protests. Initially, President Petro took a firm stance against the unions, asserting that he would not allow them to disrupt the country. However, the agreement reached in the early hours of Friday included a gradual implementation of a lower increase in fuel costs by the end of the year, addressing some of the truckers' concerns. Petro's administration is facing challenges, including a widening budget deficit and the need to fund social programs in education and healthcare. The diesel subsidies cost the government approximately $240 million monthly, prompting the need for fiscal adjustments. The government plans to increase wealth taxes and sales taxes on certain goods to offset these costs. The resolution of the strike was celebrated by truckers, who unblocked roads and honked in victory. This incident highlights the ongoing tensions between the government and various labor unions, as well as the broader implications of fiscal policy changes on the economy and social welfare in Colombia.