E. Adjust Tariffs On Footwear And Leather Products To 30%

It was learned from relevant parties that the Ecuador foreign trade and Investment Commission adopted a tariff increase of 567 in October 24th, with a maximum margin of 30%, the highest limit stipulated by WTO.

Among them, tariffs on clothing and leather goods and footwear products were adjusted to 30%, before adjusting for 20%.

It is understood that the tariff increase is the second important tariff reform carried out after the Ecuador government cut tariffs on 1957 kinds of raw materials and capital goods in August this year.

These measures are aimed at revitalizing domestic production in Ecuador.

It is understood that next week will also discuss the 262 tariff adjustments made by entrepreneurs on the 24 day.

Analysts believe that at present, the Ecuador government is implementing a policy of protectionism to protect domestic industries from foreign products.

Ecuador's tariff adjustment will make it more difficult for the security community to realize the customs union.