QUITO, Feb. 4 (Xinhua/APP/DNA):Ecuadorian President Daniel Noboa said on Monday that the country will impose a 27-percent tariff on products imported from Mexico to promote domestic production.
In a post on social platform X, Noboa said “the New Ecuador has always been open to commercial integration, but not when there is abuse.”
“We ratify our stance on signing a Free Trade Agreement with Mexico. But, until that happens and becomes a reality, we are going to apply a 27- percent tariff on the products we import, with the goal of promoting our industry and ensuring fair treatment for our producers,” Noboa said.
Neither the office of the Presidency nor the Foreign Ministry has issued any details on when the tariff will take effect.
The foreign ministry’s communications department said that the Ministry of Production, Foreign Trade, Investment, and Fisheries is responsible for “the decision on setting tariffs.”
Ecuador and Mexico broke off diplomatic relations in April 2024 after Ecuadorian police raided the Mexican Embassy in Quito to arrest former Vice President Jorge Glas, who had sought refuge there.
Glas, convicted of corruption, was arrested after Mexico granted him political asylum. He is currently being held at a maximum security prison.
According to the Central Bank of Ecuador, the Andean country had a trade deficit with Mexico in 2024.
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