Ecuador initiates talks with the US after changes in its tariff policy

TL;DR

Ecuador has opened formal communication channels with the U.S. Trade Representative's Office.
The move comes after U.S. President Donald Trump announced tariff increases.
Ecuador pledges to act with responsibility and technical rigor to protect its commercial interests.
The U.S. Supreme Court ruled that the IEEPA of 1977 does not permit the president to impose tariffs.
Despite the ruling, Trump announced a 10% general tariff on imports, increased to 15%, and indicated the use of the 1974 trade code.
Ecuador and the U.S. plan to sign a Reciprocal Trade Agreement soon.
This agreement is expected to allow immediate 0% tariffs on approximately 50% of Ecuadorian exports.
Ecuador had a trade deficit of $644.5 million with the U.S. in 2024 when including oil and derivatives.
Excluding oil and derivatives, Ecuador had a trade surplus of $2,306 million with the U.S. in 2024.

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