Key Takeaways
- Ecuador plans to impose a 27-percent tariff on Mexican goods to promote domestic production.
- The tariff constitutes only a small portion of Mexico’s exports, downplayed by President Claudia Sheinbaum.
- Mexico and Ecuador broke off diplomatic relations in April 2024 after Ecuadorian police raided the Mexican Embassy in Quito to arrest former Vice President Jorge Glas.
Mexico City: Mexican President Claudia Sheinbaum on Tuesday downplayed the impact of Ecuador’s plan to impose a 27-percent tariff on Mexican goods, noting that trade between the two countries constitutes only a small portion of Mexico’s exports.
“Yesterday, I asked how much we import from Ecuador, I think it accounts for 0.4 percent of Mexico’s total imports,” Sheinbaum told reporters at her regular morning press conference.
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.
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.
