U.S. tariff reimbursement in store for Ecuadorian fruit exporters
Ecuadorian pineapple and mango exporters will now be exempt from U.S. tariffs after a decision to renew the Andean Trade Promotion and Drug Eradication Act (ATPDEA), website Telegrafo.com.ec reported.
The agreement fell apart in February due to U.S. political infighting, but exporters will now be able to claim reimbursements for tariffs paid between Feb. 12 and Nov. 5.
The program came into effect on Nov. 5 and gives tariff exemptions to 750 products, with benefits to apply until Jul. 31, 2013.
The U.S. is Ecuador's biggest trade partner, exporting US$6.18 billion worth of goods between January and August this year and importing US$3.9 billion from the South American country.
The ATPDEA also includes Colombia and Peru, but these countries hold free trade agreements with the U.S.
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