This paper analizes the impact of trade liberalization upon the pattern of relative wages in Colombia’s seven principal cities over 1976-1999. Consistent with prior work of the author’s for Colombia and other developing countries, this paper finds that trade liberalization was not associated with a falling wage-skill gap, or relative wages. In contrast to the standard Stolper-Samuelson predictions for developing countries, as average tariffs rose over 1976-1990, relative wages fell; while as average tariffs fell after 1990, relative wages increased. In both periods, the relative supply of skilled workers was rising, contributing to the fall in relative wages prior to 1990, while this effect was dominated by rising relative demand after 1990. In addition, the real exchange rate appears to have played an important role in wage structure, with revaluation after 1990 raising relative wages and worsening the distribution of earnings. The initial rise in relative wages after 1990, documented in previous work by the author, was modest and has not tended to increase subsequently, in part due to the continued increase in relative supply which moderated the sharp increases in relative demand after 1990 that are documented in this paper.