Ecuador president announces 27% tariff on Mexican goods
by Reuters Feb 03, 2025
Ecuador's President Daniel Noboa announced on Monday that his government will apply a 27% tariff on Mexican goods in an effort to promote fair treatment for his country's companies.
In a post on X, Noboa said he favors more exchange of goods with other countries, including a potential free trade deal with Mexico, "but not when there is abuse." Until there is such a deal, he added, the 27% duty will apply.
Last year, Ecuador and Mexico broke off diplomatic relations after Noboa ordered a raid on the Mexican embassy to arrest a former Ecuadorean vice president.
The South American nation is set to hold a first-round general election this Sunday, in which Noboa is running to remain in office.
Mexico's economy ministry, which handles trade policy, did not immediately respond to a request for comment.
Reuters
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