Ecuador Imposes 27% Tariffs on Mexican Goods Amidst Trade Tensions
Ecuador’s President Daniel Noboa announced a 27% tariff on Mexican goods, citing unfair treatment of Ecuadorian producers and a lack of a free trade agreement. This affects $541 million in Mexican imports to Ecuador in 2023, with pharmaceuticals being a significant component. The move follows strained diplomatic relations stemming from a raid on the Mexican embassy in Quito. While Ecuador is a small trading partner for Mexico, the tariff represents a significant escalation of trade tensions between the two nations.
John Q. Hosedrinker