54% of Ecuadorian Exports Exempt from 10% US Tariffs

The Ecuadorian Federation of Exporters (Fedexpor) reported that 54% of Ecuador's non-oil exportable goods to the United States were excluded from the new 10% tariff surcharge applied since July 24. Among the beneficiary products are bananas, plantains, cocoa beans, instant coffee, and 151 other specific items for Ecuador.

Fedexpor noted that the remaining 46% will have to bear the new tariff, although in most cases, the rate will still be lower than that applied to several regional competitors. However, it warned that countries with free trade agreements, such as Mexico, maintain better market access conditions to the US market for a significant portion of their exportable goods.

The guild indicated that the new scheme could create opportunities for sectors such as shrimp and pet food against Asian suppliers. It highlighted that the absence of a Free Trade Agreement with the United States continues to be a challenge for strengthening the competitiveness of Ecuadorian exports and their access to the international market.