Stock Watch: How Colombia's Biggest Companies Performed After Trump's Major Tariff Threat

Investors of Colombia's largest companies appeared to brush off Trump's threats of massive tariffs on imports from the Latin American country were put on hold.

COLCAP, the main stock market index in Colombia was up more than 1% for the day on Monday as earlier losses were erased.

The index tracks the performance of the 24 largest public companies on the Colombia Stock Exchange.

Ecopetrol, the country's largest fuel company was trading was up more than 1.5% in afternoon trading.

The Colombian peso was falling early against the dollar as traders remained cautious but the price recovered later in the day.

Colombia on Sunday backed down and agreed to accept deported citizens sent on U.S. military aircraft, hours after Trump threatened painful tariffs to punish the defiance to his mass deportation plans.

Colombia's leftist president, Gustavo Petro, had earlier said he would only take back citizens "with dignity," such as on civilian planes, and had turned back two U.S. military aircraft with repatriated Colombians.

Trump, less than a week back in office, responded furiously and threatened sanctions of 25 percent that would quickly scale up to 50 percent against Latin America's fourth largest economy.

Petro initially sought to hit back and impose his own tariffs on US products, but by the end of the volatile Sunday he had backed down.

Colombian Foreign Minister Luis Gilberto Murillo told a late-night news conference that his country had "overcome the impasse" and would accept returned citizens.

The AFP contributed to this report.