Ecuador seeks renewal of tariff preference system in US House of Representatives | Economy | News

the Ministry of Foreign Affairs and Human Mobility I mentioned that Ecuadorean Embassy in the United States (USA) works with Parliament to allow renewal Generalized Preferential Tariff System (GSP).

the U.S. congress He agreed to renew the system until 2027, on June 8 of this year.

“In the bill submitted, it was stated that its application would be retroactive, in order to ensure that the recipient countries would not be prejudiced. The State Department said in a statement that the bill has the support of both legislatures (Democrats and Republicans), a fact that will facilitate its processing.

Revival of the intention to sign a trade agreement between Ecuador and the United States

the Generalized System of Preferences (GSP) It grants beneficiary countries zero or reduced tariffs for some products and significant tariff reductions.

look up government From Ecuador is to sign the trade agreement with United State. from government Lenin Moreno Steps are being taken to achieve this goal, and progress has been made in the first phase.

However, this possibility did not materialize under the new administration of the president of that country, Joe Biden.

Foreign Minister Mauricio Montalvo: ‘Negotiating trade agreements is not a priority for the US government at the moment’

Now, government Guillermo Laso It maintains the policy of signing trade agreements with the world’s ten major economic powers, including China And at the regional level, enter a block Pacific Alliance By signing a commercial agreement with MexicoOffered until the end of this year. (I)