Ecuador imposes 27% tariff on Mexican goods, citing unfair trade practices and diplomatic tensions.

Ecuador's President Daniel Noboa announced a 27% tariff on Mexican goods to protect local producers, citing unfair trade practices. This move follows a diplomatic rift after Ecuador raided Mexico's embassy to arrest a former vice president. Trade between the nations is minor, with Ecuador importing $541 million in goods from Mexico in 2023. The tariff aims to correct what Noboa sees as asymmetric trade, potentially boosting local industries but risking retaliation and higher consumer prices.

6 weeks ago
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