IBOV 171,031.73 ▲ 1.85% IPSA 11,338.38 ▲ 0.89% IPC MEX 65,729.18 ▲ 2.14% MERVAL 2,913,184 ▲ 1.30% COLCAP 2,459.23 ▲ 0.61% BVL PERÚ 58,698.13 ▲ 2.60% USD/BRL5.14▼ 0.05% USD/MXN16.91▲ 0.02% USD/CLP914.28— 0.00% USD/COP3,044▲ 0.21% USD/PEN3.35▼ 0.04% USD/ARS1,499▼ 0.03% USD/UYU40.20▲ 1.52% USD/PYG5,996▲ 1.39% USD/BOB11.43▲ 0.51% USD/DOP58.82▲ 0.19% USD/CRC450.05▲ 1.95% USD/GTQ7.62▲ 2.13% USD/HNL26.81▲ 1.55% USD/NIO36.62— 0.00% USD/VES782.70▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.71▲ 0.82% EUR/BRL6.00▼ 1.09% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 171,031.73 ▲ 1.85% IPSA 11,338.38 ▲ 0.89% IPC MEX 65,729.18 ▲ 2.14% MERVAL 2,913,184 ▲ 1.30% COLCAP 2,459.23 ▲ 0.61% BVL PERÚ 58,698.13 ▲ 2.60% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Monday, August 24, 2026

Petro Arrives in Washington for a Summit With Trump That Seemed Impossible Weeks Ago

By · February 2, 2026 · 3 min read

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Key Points

  • Colombia’s leftist president and Donald Trump went from mutual threats of war to a White House meeting in under a month — after the U.S. captured Venezuela’s leader in a military raid
  • The world’s largest cocaine producer is presenting record drug seizures while sitting on record drug production, and both sides know it
  • What happens Tuesday could reshape the most important security partnership in Latin America, with billions in aid and trade on the line

A year ago, Donald Trump threatened to bomb Colombia. Colombia’s president, Gustavo Petro, threatened to pick up a gun. On Tuesday morning, they shake hands at the White House.

The story of how they got here is the story of how the Western Hemisphere’s most important security partnership nearly collapsed — and why it matters far beyond South America.

Petro, Colombia’s first leftist president, a former guerrilla fighter who once stormed the country’s Palace of Justice, took office in 2022 promising to rethink the American-backed drug war.

Petro Arrives in Washington for a Summit With Trump That Seemed Impossible Weeks Ago. (Photo Internet reproduction)
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Instead of sending soldiers to rip out coca plants, he would invest in poor farmers and go after cartel bosses. Trump, returning to power in January 2025, wanted the opposite: harder enforcement, more eradication, fewer excuses.

The friction turned personal fast. Petro blocked U.S. deportation flights carrying shackled Colombian migrants. Trump threatened 25% tariffs within hours. Petro backed down the same day, but the damage was done.

Petro Washington Relationship Reaches Breaking Point

Over the following months, Washington revoked Petro’s visa after he urged American soldiers to disobey Trump at a UN protest over Gaza, sanctioned him alongside his wife and son over drug allegations, and decertified Colombia‘s anti-narcotics cooperation for the first time since 1997.

Then came the earthquake. On January 3, 2026, U.S. forces raided Caracas and captured Venezuelan President Nicolás Maduro. Over 100 people died. Petro condemned it.

Trump called him “a sick man” and mused about doing the same to Colombia. A 55-minute phone call on January 7 pulled them back from the edge.

Now Petro arrives carrying contradictory numbers. His government claims 2,800 tons of cocaine seized and 521 extraditions.

But UN data shows coca cultivation hit a record 253,000 hectares, cocaine production surged 53% to 2,664 metric tons, and eradication collapsed 93% from its 2020 peak.

Critics on the right say Petro’s softer approach caused the boom. Supporters on the left argue Washington punished him for his politics — on Gaza, on Venezuela — not his drug record, noting coca surged under conservative predecessors too.

To get this meeting, Petro made concessions he spent his career opposing: restarting glyphosate crop fumigation, resuming deportation flights, and agreeing to joint military operations against the ELN guerrilla.

With $39 billion in bilateral trade, Colombia’s May elections approaching, and the precedent of a captured head of state next door, Tuesday’s closed-door session is not just another diplomatic handshake. It is a test of whether the hemisphere’s rules still hold.

Download full report here.

Related coverage: Brazil’s Morning Call | Chile Closes 2025 With a Surprise Growth Beat, but Mining Wo This is part of The Rio Times’ daily coverage of global affairs and Latin American financial news.

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