Ecuador imposes tariff on Mexican goods
President of Ecuador Daniel Noboa announced a 27 percent tariff on Mexican goods to protect Ecuadorian producers until a Free Trade Agreement is signed. Mexico cut diplomatic ties with Ecuador in 2024 after an incident involving the arrest of a former Ecuadorian Vice President.
Key Points
- 27 percent tariff imposed by Ecuador on Mexican goods
- Negotiations for a Free Trade Agreement between Ecuador and Mexico
- Diplomatic tensions between the two countries
Pros
- Protecting Ecuadorian producers
- Promoting local industry
Cons
- Potential impact on Mexican imports
- Trade tensions between Ecuador and Mexico