Ecuador renounces trade benefits from US Congress
Quito (Ecuador): Ecuador`s communications minister says the country is renouncing trade preferences that are up for US congressional renewal.
It comes as Ecuador considers the asylum request of NSA leaker Edward Snowden, which has prompted critics in the US to suggest retaliation against the South American country.
Minister Fernando Alvarado told a news conference today the benefits were originally granted for help in the fight against drugs but have become "an instrument of blackmail." He said "Ecuador unilaterally and irrevocably renounces said preferences."
The program has given Ecuador millions of dollars in benefits, but it faced an uphill fight for renewal. Alvarado did not mention another effort to win trade benefits under a presidential order.
Alvarez said his country won`t bow "to mercantile interests, as important as they may be."
More from India
More from World
More from Sports
More from Entertaiment
- Maysore Maharaja Yaduveer ties knot with princess Trishika of Dungarpur
- India becomes full member of Missile Technology Control Regime
- Singapore Airlines plane catches fire at Changi Airport
- Govt's insensitivity towards Pampore terror attack martyrs leaves nation stunned
- Mysore Maharaja Yaduveer Wadiar ties knot with princess Trishika Singh of Dungarpur, Rajasthan