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Country ETFs are performing well, with an average YTD return of 6.5% across over 40 ETFs. Peru (EPU) leads with a 22.2% gain, followed by South Korea (EWY) and Colombia (COLO). However, all G7 country ETFs are underperforming, with the US (SPY) at just 1.1%. Kuwait (KWT) and India (INDA) are the only ETFs in negative territory this year.
Colombian President Gustavo Petro has proposed talks to Ecuador's President Daniel Noboa to resolve a trade war sparked by tariffs on Colombian imports. Noboa imposed a 30% tariff due to Petro's alleged inaction against drug trafficking. Colombia retaliated with tariffs and halted electricity sales to Ecuador. Despite the tensions, Petro's offer for dialogue aims to de-escalate the situation, while Noboa emphasized the need to combat drug trafficking. The two countries are yet to schedule a bilateral meeting to address these issues.
