Daniel Noboa announces 27% tariff on Mexican imports

 On February 3, 2025, President Daniel Noboa of Ecuador declared the imposition of a 27% tariff on products imported from Mexico. This decision comes after Ecuador severed diplomatic ties with Mexico on April 5, 2024. Noboa stated that the tariff would remain in effect until a Free Trade Agreement (FTA) with Mexico is signed.

The primary objective behind this trade measure, according to Noboa, is "to promote our industry and ensure fair treatment for our producers." In a message posted on social media platform X, he emphasized that "the New Ecuador," a slogan of his administration, has always been open to commercial integration, but not when it involves abuse. He also expressed that his government is open to signing an FTA with Mexico, but until that happens, the 27% tariff will be enforced on imports from the North American country.

Under the previous administration of Guillermo Lasso, negotiations for a trade agreement with Mexico were 99% complete. However, in December 2022, both governments decided not to finalize the deal. Julio José Prado, Ecuador’s former Minister of Foreign Trade, explained that the negotiations were stalled due to the decision of Mexican President Andrés Manuel López Obrador, who refused to grant Ecuadorian bananas and shrimp preferential tariff access to Mexico.

Trade exchange between Ecuador and Mexico

Ecuador imports a range of goods from Mexico, including pharmaceuticals, machinery, mechanical devices, cars and their parts, electrical machinery, and cosmetics. These categories make up 57% of Ecuador's non-oil imports from Mexico.

On the other hand, Mexico imports approximately 320 products from Ecuador, sourced from 260 exporting companies, according to the Ecuadorian Federation of Exporters (Fedexpor). As a result, Mexico ranks as the eighteenth-largest destination for Ecuador’s non-oil exports.

Source: Primicias.