Washington, D.C.- Representative Maria Salazar (R-Fl) has filed legislation that would establish a free trade agreement with Ecuador.
Representative Salazar’s initiative would bring Ecuador into the fold of countries within the Caribbean Basin Initiative (CBI).
The CBI was created by the Caribbean Basin Economic Recovery Act (CBERA) and grants states in the Caribbean region duty-free access to the U.S. market for most goods.
According to a Salazar press release, imports from Ecuador to the United States totaled $11.04 billion in 2022.
As reported by the Observatory of Economic Complexity (OEC), the United States was the largest destination of Ecuadorian exports.
However, the Latin American state has increased exports to China by 127% and has increasingly relied on Chinese imports.
““Ecuador is suffering from an unprecedented economic and security crisis,” said Chairwoman Salazar. “Ecuador needs a jumpstart to its economy to get back on track. My bill will give much needed stability to one of the United States’ most critical allies in the region.”
The bill was referred to the House Committee on Ways and Means where it will face further scrutiny.
While seeking to strengthen economic ties with some Latin American states, Salazar has also recently criticized other countries in South America for their responses to the Israel-Hamas war.
Salazar discussed this issue in a House Foreign Affairs Committee hearing called "Friend and Ally: U.S. Support for Israel After Hamas’ Barbaric Attack.” As the Chairwoman of the Western Hemisphere Subcommittee, Salazar also questioned several Biden officials over the recent actions from the aforementioned Latin American countries.
Salazar accused the Biden administration of pandering to left-wing governments across Latin America, warning of potential negative consequences arising from such behavior.
