In a move aimed at ensuring “fair treatment” of Ecuadorian producers, President Daniel Noboa announced Monday that the country will impose a 27% tariff on goods imported from Mexico. The decision comes as trade tensions between the two nations escalate.
According to President Noboa’s post on X, he is open to negotiating a free trade deal with Mexico, but only when there is “no abuse.” Until such an agreement is reached, the 27% tariff will remain in place for Mexican goods.
Ecuador imported over $541 million worth of goods from Mexico last year, with medication being the largest single import. However, Ecuador represents less than 0.1% of Mexico’s exports, making it a relatively small trading partner for the country.
The move follows recent diplomatic tensions between the two nations. Last year, Ecuador and Mexico broke off diplomatic relations after President Noboa ordered a raid on the Mexican embassy in Quito to arrest Jorge Glas, a former Ecuadorean vice president who had sought asylum in Mexico.
Surveillance footage from the incident showed Ecuadorian police grappling with the Mexican mission’s top diplomat as they arrested Glas, who claimed that embezzlement charges against him were politically motivated. The incident marked a significant escalation in tensions between the two countries.
President Noboa, the son of a banana tycoon, has been known for his uncompromising agenda since taking office last year. He has vowed to rein in rampant crime and has declared “war” on over 20 criminal gangs.
Source: Yahoo News
