Nov. 14 (UPI) -- The White House announced new "trade framework agreements" with Argentina, Ecuador, El Salvador and Guatemala, all governed by administrations aligned with president Donald Trump, with the goal of reducing certain tariffs, eliminating non-tariff barriers and expanding access for U.S. products in those markets.
According to a statement issued by Washington on Thursday, the agreements establish reciprocal commitments.
The Latin American countries will eliminate or ease requirements and licenses that restrict the entry of U.S. goods -- including agricultural products, medical devices, machinery and automobiles -- while the U.S. government will reduce or waive tariffs on some key exports from those countries, as long as the products are not produced in sufficient quantities domestically.
"These agreements will help American farmers, ranchers, fishermen, small businesses and manufacturers increase U.S. exports and expand trade opportunities with these partners," the White House said.
The commitments agreed to range from the acceptance of U.S. standards for vehicles, auto parts, medical devices and pharmaceuticals in El Salvador's case to preferential access in Argentina for machinery, technology products, chemicals and agricultural goods, along with reforms to its intellectual property regime.
