The United States and Ecuador reached a trade framework agreement

The United States has reached a trade framework agreement with Ecuador, a South American country. Ecuador will reduce or eliminate tariffs on key industries of the United States.

Reuters reported that the White House issued a statement on Thursday (November 13) saying that Ecuador has committed to reducing or eliminating tariffs on key US industries, including machinery, medical products, information and communication technology products, chemicals, automobiles and certain agricultural products.

In view of the measures taken by the Guatemalan side to eliminate some non-tariff trade barriers, the United States will lift tariffs on some Guatemalan imports, including products that cannot be grown, mined or naturally produced in the United States, as well as tariffs on some Guatemalan textiles and clothing.

The White House said that the two countries have reached an agreement on a trade framework based on an early trade agreement that came into effect in 2006, which will strengthen economic ties between the two countries.