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News Link • Economy - International

Ecuador to Compensate Exporters Hurt by End of U.S. Trade Preferences

• online.wsj.com
 

The law was approved with 103 votes in favor and only one against. It will compensate exporters with about $23 million a year.

The law allows for the giving of tax-credit certificates to companies affected by the removal of the preferences. The certificates can be used to pay taxes or some debts with state-owned banks.

The government of President Rafael Correa has said that the impact of losing the preferences will be $23 million a year, while Ecuadorean exporters put the number at $26 million.

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