Tariff increase to 400 products, under analysis

Ecuadornews:

Foreign Trade Minister Pablo Campana announced yesterday his plans of raising the tariff of 400 imported products by up to five percentage points. The decision took by surprise part of the local businessmen.

Of the 1 243 products that came under review after the safeguard tariffs were removed, about 400 will be evaluated “in terms of tariffs” by the Foreign Trade Advisory Council, said Campana. “If there is a product that today pays the 10%, it will surely pay a 15% tariff,” he said.

The 400 products are related to consumer goods, the Minister said, and emphasized that these do not include raw materials or capital goods. “We are analyzing to levy those (products) that do not affect the popular and solidarity economy.” (I)

Source: http://www.elcomercio.com/actualidad/alza-arancel-productos-importacion-salvaguardias.html