Ecuador’s Political Turmoil: Tariff Imposition and Upcoming Elections

Ecuador’s President Daniel Noboa announced a 27% import tariff on Mexico amidst diplomatic tensions, drawing a muted response from Mexican President Claudia Sheinbaum. Economists are baffled by the move, which may be linked to Noboa’s political ambitions ahead of his re-election on February 9, during a time of significant violence and economic hardship in Ecuador.

On February 3, Ecuadorian President Daniel Noboa unexpectedly declared a 27% tariff on imports from Mexico amidst ongoing diplomatic tensions. In response, Mexican President Claudia Sheinbaum noted that Ecuador represents a mere 0.4% of Mexico’s imports, implying minimal impact from the decision. Economists expressed confusion over the tariff, highlighting that Ecuador primarily imports medical supplies from Mexico. Researcher Franklin Ramirez Gallegos suggested that Noboa’s move is an attempt to project a strongman image like that of former President Trump, who recently imposed and subsequently suspended similar tariffs.

Ecuador is experiencing a significant political and security crisis, worsened by an ongoing energy and economic downturn. President Noboa, aged 37, is navigating his first term after the resignation of former President Guillermo Lasso and the disbandment of the National Assembly, necessitating new general elections. The country has faced violence and instability, exacerbated by the assassination of presidential candidate Fernando Villavicencio during the 2023 campaign, with Noboa now seeking re-election on February 9, 2024. The president has claimed that the substantial issues facing the nation cannot be resolved in a mere year.

In summary, President Daniel Noboa’s decision to impose a tariff on Mexican imports represents a strategic move during a complex election cycle amidst escalating violence and ongoing economic challenges in Ecuador. While the Mexican administration downplays the significance of the announcement, domestic economists and observers view it as an attempt by Noboa to bolster his image in light of his short tenure and recent tumultuous events.

Original Source: www.lemonde.fr