QUITO (Reuters)-Ecuador President Daniel Noboa announced on Monday that his government will apply a 27% rate on Mexican products in an effort to promote fair treatment for companies in his country.
In an X post, Noboa said it is in favor of a greater exchange of goods with other countries, including a possible free trade agreement with Mexico, “but not when there is abuse.”
Until there is such an agreement, he added, the 27% rate will be applied.
Last year, Ecuador and Mexico broke diplomatic relations after he or she ordered an invasion of the Mexican embassy to arrest an Ecuadorian former vice-president.
The South American country is expected to hold the first round of the general elections this Sunday, in which Noboa competes to stay in office.
The Mexico Ministry of Economy, which takes care of trade policy, did not immediately respond to a commentary request.
