Andean Preference Trade Act Expires Tomorrow

Exporters of Ecuador could hold a few months without the U.S. preferential rates given to the country, but some companies would need government support, said Bernardo Perez, chairman of the Ecuadorian Federation of Exporters (FEDEXPOR).

The Andean Preference Trade Act (ATPDEA) expires tomorrow and if the U.S. Congress does not renew it until that day, customs duties will be immediately apply to hundreds of Ecuadorian products that now enter duty-free to the U.S.
“If it is a short-term impact, exporters are going to resist,” said Perez.

However, some companies have problems with less cash, so they would need loans from the Government of Ecuador, in his opinion.

These credits should be designed not to break the rules of the World Trade Organization (WTO), which penalizes the export subsidies.

Source: Daily hoy