Ecuador Imposes Tariff on Mexican Goods Amid Trade Tensions

Ecuador's President Daniel Noboa announced a 27% tariff on Mexican goods, aiming to ensure fair treatment for Ecuadorian companies. This move precedes potential free trade agreements with Mexico, with tensions stemming from past diplomatic disputes. The announcement comes just before Ecuador's upcoming general election.

Ecuador's President Daniel Noboa has declared a new 27% tariff on Mexican imports as a strategic move to ensure fair treatment for domestic companies. This announcement highlights ongoing trade tensions between the two nations.

Noboa, expressing interest in enhancing international trade, stated on social media platform X that he supports greater exchange of goods with countries like Mexico. However, he emphasizes that engagement must avoid abuse, suggesting that until a free trade agreement materializes, the newly imposed tariff will remain.

The timing of this announcement is significant, as Ecuador is poised for a general election this Sunday, with Noboa seeking re-election. Meanwhile, Mexico's economy ministry has yet to comment on this development, reflecting enduring diplomatic strains following a controversial embassy raid last year.

(With inputs from agencies.)