The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

World

Ecuador announces 27% tariffs on Mexican goods

by admin February 4, 2025
February 4, 2025
Ecuador announces 27% tariffs on Mexican goods

Ecuador will apply a 27% tariff on Mexican goods to “ensure fair treatment” of Ecuadorian producers, President Daniel Noboa said on Monday.

In a post on X, Noboa said he is open to signing a free trade deal with Mexico, but “not when there is abuse,” though did not elaborate. The president said that until a free trade deal is struck, a 27% tariff will apply to goods imported from Mexico.

Ecuador imported $541 million worth of goods from Mexico in 2023, Mexican government data shows. The biggest single import was medication, representing 12.6% of the goods sold from Mexico to Ecuador that year.

Still, Ecuador is a miniscule trading partner for Mexico, accounting for less than 0.1% the value of Mexico’s exports last year, according to Mexican government data.

The announcement comes after US President Donald Trump announced a pause on his threat of 25% tariffs on all imports from Mexico, after a conversation with Mexican President Claudia Sheinbaum.

Last year, the two countries broke off diplomatic relations following Noboa’s order of a raid on the Mexican embassy in Quito, Ecuador to arrest Jorge Glas, a former Ecuadorean vice president.

Surveillance footage from the incident in April 2024 showed Ecuadorian police grappling with the Mexican mission’s top diplomat as they arrested Glas, who had been seeking asylum from Mexico when the raid took place. The ex-vice president had sought protection from embezzlement charges by requesting asylum in Mexico, saying that the accusations were politically motivated.

Noboa, the son of a banana tycoon, swept into office in late 2023 as the youngest president in Ecuador’s history on the back of a promise to rein in the rampant crime. Since then, he has embarked on an uncompromising agenda, including declaring “war” on more than 20 criminal gangs.

This post appeared first on cnn.com

0
FacebookTwitterGoogle +Pinterest
previous post
Catherine, Princess of Wales smiles in new woodland photo in honor of World Cancer Day
next post
Founder of pro-Russian paramilitary group dies in explosion in Moscow

Related Posts

US to evacuate 20 embassy staff from Haiti...

October 25, 2024

India’s caste system is controversial and discriminatory. So...

May 17, 2025

Who is Han Zheng, the senior Chinese official...

January 20, 2025

UN mission in Libya calls for de-escalation after...

May 13, 2025

Infected wounds, maggots and no escape. Gaza’s humanitarian...

September 10, 2024

US-made munitions used in deadly Israeli strike on...

July 12, 2024

‘I’m very grateful’: Stories of heroism emerge as...

January 9, 2025

A 10-month-old has contracted Gaza’s first case of...

August 17, 2024

Investigations say Israeli tank shells struck and killed Reuters journalist...

December 8, 2023

China’s navy commissions new-generation frigate as competition rises...

January 23, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,508)
    • Investing (3,915)
    • Politics (5,216)
    • World (4,762)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved