Latin America Advisor 2023-07-25 – Inter-American Dialogue

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

July 25, 2023

What Would the U.S. IDEA Act Mean for Ecuador?

The U.S. Congress is considering the IDEA Act, which would make Ecuador an eligible beneficiary of the Caribbean Basin Economic Recovery Act. Ecuador’s capital, Quito, is pictured. // File Photo: Ecuadorean Government.

Q

U.S. senators Bob Menendez (D-N.J.) and Jim Risch (R-Idaho) earlier this year introduced the Innovation and Development in Ecuador, or IDEA, Act, a measure that would make the South American country an eligible beneficiary of the Caribbean Basin Economic Recovery Act. The legislation includes provisions to lower tariffs on nearly half of Ecuador’s exports to the United States and promote policies that the sponsors say would reduce illegal immigration from Ecuador and counter Chinese influence in the country. What are the most important parts of the IDEA Act, and what are its chances of winning legislative approval and becoming law? To what extent would it counter Chinese influence in Ecuador? How useful would the measure be to the United States and to Ecuador?

A

Ivonne A-Baki, Ecuador’s ambassador to the United States: “The IDEA Act is the culmination of a virtuous process of rapprochement between Ecuador and the United States, which has finally made it possible to materialize, in a practical way, our common values and objectives. This has been an example of how the United States can strengthen its relations with the region, at a moment when it’s urgent to move from declarations to actions. The IDEA Act allows to translate into concrete elements the common will of our countries to generate long-term solutions to problems that affect the United States, Ecuador and the entire region, for example transnational organized crime, especially drug and human trafficking. The IDEA Act is a win-win exercise. Through the expansion of bilateral trade, Ecuador will win, because this initiative will…”

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