The Financial Comet
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

The Financial Comet

World News

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

previous post
Rebels call for ceasefire in DR Congo after hundreds are killed in a week of fighting
next post
Jenin mayor likens Israeli military operation to war in Gaza

Related Posts

China tightens screws on what can be shared...

February 11, 2025

The US may have a deal with Russia...

March 26, 2025

‘We’re here to clear our names’: Tate brothers,...

March 22, 2025

Pyrotechnics blamed as fire rips though North Macedonia...

March 17, 2025

New Prince Louis photo released to mark 7th...

April 24, 2025

Chinese military says it’s launched joint army, naval...

April 1, 2025

France planning Supermax-style prison near notorious Devil’s Island...

May 20, 2025

Ecuador votes for its next president amid deadly...

April 14, 2025

Lebanon says it was hit by cross-border attack...

March 18, 2025

Why Argentina’s military is deploying to surveil hundreds...

March 10, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


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

    Editors’ Picks

    • 1

      Trump re-designates Iranian-backed Houthis as terrorists: ‘Threaten[s] security of American civilians’

      January 23, 2025
    • 2

      DeepSeek hit with large-scale cyberattack, says it’s limiting registrations

      January 28, 2025
    • 3

      Bank of America CEO says financial industry will jump into crypto payments if regulators allow it

      January 23, 2025
    • 4

      FDA officially authorizes Zyn nicotine pouches for sale following health review

      January 23, 2025
    • 5

      Universal’s ‘Wicked: For Good’ creates a unique marketing challenge

      January 27, 2025
    • 6

      UnitedHealthcare taps company veteran Tim Noel as new CEO following Brian Thompson killing

      January 27, 2025
    • 7

      Lara Trump to host weekend show on Fox News

      February 7, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: thefinancialcomet.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 © 2025 thefinancialcomet.com | All Rights Reserved