Ecuador places an additional import tariff on food and non-food items

08/04/2015,

On March 11 2015, Ecuador placed an additional tariff ranging 5 to 45 percent on 461 imported food and non-food items, including meat, rice, dairy products, red onions, dried and fresh fruits. The new tax is a tariff surcharge on goods as balance of payment safeguard and will be imposed for 15 months. The tariff has resulted in an increase in consumer prices for the respective imported goods. The measure is an attempt by the Government seeking to reduce imports and improve the balance of payments.

Country: Ecuador