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.
Ditto, it's all about us (the political powers).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.
What about the poor who lose their jobs in the import sector?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.”