President Donald J. Trump and President Daniel Noboa have announced a new framework for an agreement on reciprocal trade between the United States and Ecuador. The leaders stated that this initiative is based on democratic values, private enterprise, and a commitment to rules-based commerce and innovation.
The planned agreement aims to strengthen economic ties by improving market access for both countries and increasing cooperation on economic and national security issues. It will build upon existing engagement under the U.S.-Ecuador Trade and Investment Council Agreement, which was first signed in 1990 and updated in 2020.
According to the joint statement, "President Donald J. Trump and President Daniel Noboa affirm a shared vision of growth for both of our countries, grounded in democratic values, private initiative, and a rules-based environment for commerce and innovation. Seeking to strengthen our commercial and economic relationship, the United States of America (United States, or U.S.) and the Republic of Ecuador (Ecuador) have agreed to a Framework for an Agreement on Reciprocal Trade (Agreement) that will provide access to each other’s markets and increase alignment on economic and national security matters."
The agreement includes provisions such as removing certain reciprocal tariffs on qualifying exports from Ecuador to the United States as Ecuador commits to advancing a more balanced trade relationship.
Both governments are working toward finalizing the agreement, preparing it for signature, and completing necessary domestic procedures before it enters into force. Ongoing oversight will be conducted through regular reviews by their Trade and Investment Council.
"The United States and Ecuador are working to finalize the Agreement, prepare the Agreement for signature, and undertake domestic formalities in advance of the Agreement entering into force. Given Ecuador’s commitments to take significant steps to advance a more reciprocal trade relationship, the United States will remove its reciprocal tariffs on certain qualifying exports from Ecuador to the United States," according to the statement.
Further coordination between both nations will continue through their established council focused on trade matters.
