The fourth round of trade negotiations between Ecuador and the United States resulted in a proposal with both positives and negatives. Washington proposed reducing tariffs on products such as bananas and cocoa from 15% to 0%, but left out shrimp and tuna, the country’s largest foreign exchange earners.

If implemented, bananas (which generated more than USD 3.5 billion in 2024) would achieve an estimated saving of USD 217.5 million, while cocoa and cocoa products (with more than USD 1 billion exported) would save around USD 63 million. However, shrimp would maintain a 15% tariff, implying an additional cost of $345 million, and tuna and canned goods would incur an additional cost of $75 million.

The comparative table presented by the Ministry of Foreign Trade clearly reveals the differentiated impact:

Bananas: would go from paying 15% to 0% tariff, generating an estimated savings of USD 217.5 million in costs.
Cocoa and derivatives: would also benefit from the reduction to 0%, with savings of around USD 63 million.
Shrimp: would maintain the 15% tariff, which would mean an additional cost of USD 345 million.
Tuna and canned goods: would also be excluded from the benefit, with an additional cost of USD 75 million.

The impact is uneven: while bananas and cocoa would gain competitiveness, shrimp and tuna would remain at a disadvantage compared to countries such as Colombia and Peru, which already enjoy tariff preferences with the US. The government described the proposal as “interesting,” but warned that it would insist on expanding the list of favored products.

In this context, tariff relief is a partial respite: it strengthens two important sectors, but maintains uncertainty for items that together account for more than 40% of Ecuador’s non-oil exports.