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US Senate approved extension of tariff preferences for Ecuador

The Ambassador of Ecuador to the US, Ivonne Baki, has stated that on October 20, 2021 the US Senate approved the extension of the Generalized System of Preferences (GSP) so that certain Ecuadorian products can enter that market without tariffs.

The US GSP for a group of Ecuadorian exports expired on December 31, 2020. For this reason, 279 Ecuadorian products that entered the US without duty or paid less duty, will lose these benefits as of Friday 1 January 2021.

“The 100 senators approved the approval of the SGP. And it is retroactive,” said the ambassador, in an interview with Radio Única. The official pointed out that environmental and work requirements were included for the approval. According to data from the Ecuadorian Federation of Exporters (Fedexpor), the tariffs on these 279 products range from 3 to 18%.

Source: ecuadortimes.net


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