China is looking to sign a free trade agreement with Colombia, which sorely needs it. Panjiva data shows Colombia’s exports fell 27% in July lead by weaker coffee and oil shipments. Yet, similar deals with other Latin American countries have had a limited impact. Around 77% of Chile’s exports to China are of copper products, while 84% of Peru’s exports are base metals. Costa Rica’s exports to China dropped 90% after Intel closed a semiconductor fab there in 2014 and have yet to recover.