US, Ecuador slash tariffs, easing global trade tensions

US and Ecuador agree to reduce tariffs on key goods including health products, motor vehicles, and agricultural items, following 10 months of negotiations. The deal eliminates customs surcharges and allows US exports of critical minerals and energy resources to Ecuador. US Trade Representative Jamieson Greer stated this unlocks market access for American farmers and manufacturers in Ecuador's 18 million consumer market. Ecuador's President Daniel Noboa, a Trump ally, called this a strategic choice to improve trade conditions. The agreement comes after the US Supreme Court ruled Trump exceeded authority in imposing global tariffs last year. This development may ease recession fears sparked by previous 10 percent US tariffs that triggered worldwide market sell-offs.

SOURCE: https://www.channelstv.com/2026/03/14/us-ecuador-sign-trade-deal-cutting-tariff-rates/