Who don't need
to eat Chilean apples?
The government announced
the safeguards on Friday, March 6, in response to falling oil prices
and the rising value of the US dollar, which Ecuador has used as its
national currency since 2000. As a result, Ecuador is running a
significant trade deficit (importing more than it exports), leading the
government to try to “control the general level of imports.”
I.e., to interfere with Ecuadorians who want to buy what they need at the lowest prices.
The
provision will last for 15 months, increasing taxes by between 5 and 45
percent on thousands of imported items, with the government hoping to
reduce its deficit by 8 percent.
Ditto, it's all about us (the political powers).
President Rafael Correa justified the
action by citing the need to counter the drop in the price of
Ecuadorian crude. He added that as the affected products are “luxury”
imports, the impact of safeguards “will be minimal” because such goods
“are not consumed by the poor.”
What about the poor who lose their jobs in the import sector?
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