Composite Fabric,bonded fabric,Lamination Fabric Lamination Fabric News Ecuadorian textile industry worries about rising tariffs

Ecuadorian textile industry worries about rising tariffs



According to a report by Ecuador’s “Universo” on January 31, Resolution No. 51 issued by the Ecuadorian Foreign Trade Commission at the end of last year not only affected the domestic electron…

According to a report by Ecuador’s “Universo” on January 31, Resolution No. 51 issued by the Ecuadorian Foreign Trade Commission at the end of last year not only affected the domestic electronics industry, but also caused concerns in the textile industry about the increase in tariffs. The 588 categories of imported products involved in Resolution No. 51 include complete machines and related parts such as textile machines and industrial ironing machines, most of which are subject to an additional 5% tariff. Relevant people in the textile industry said that due to the large number of imported parts and other products, production costs will increase to a certain extent, and retail prices will also increase accordingly. The shrinking price advantage may lead consumers to choose to buy imported goods, which is not conducive to the sustainable development of the domestic textile industry. Last year, at the strong request of the Ecuadorian textile industry and other departments, the Ecuadorian government issued a resolution to impose a special tax of US$42 on each package purchased by domestic residents “overseas shopping” to protect the domestic industry.

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Author: clsrich

 
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