We have officially learned that the United States government, under the presidency of Donald J. Trump, has declared a national economic emergency and announced the imposition of tariffs on imports from all countries, including El Salvador.

In our case, the lowest rate, 10%, will be applied starting April 5, 2025. The United States has historically been a key trading partner for El Salvador. At the end of 2024, Salvadoran exports to that market totaled $2.134 billion, encompassing products such as textiles, apparel, agro-industrial products, food, pharmaceuticals, and various manufactured goods, among others. In turn, we import $4.423 billion from the U.S. in goods essential to our economy, such as petroleum oils and gas, cotton, corn, automobiles, and polymers, generating dynamic and mutually beneficial trade.

It is important to note that we do not have the relevant information indicating how this tariff will be applied, under what criteria, or on what basis. In other words, we lack the corresponding regulations. We cannot comment on the potential effects without this information. Almost all trade agreements include a clause stipulating that, in the event of economic, security, or other emergencies, measures such as the one we are now witnessing can be taken. That is, to impose these tariffs, the United States has invoked the Emergency Economic Powers Act, arguing that the country's trade deficit reached a record $1.2 trillion in 2024, that industrial production of certain products has declined, and that employment has decreased.

CAFTA has force majeure clauses that allow for the application of certain measures. CAFTA remains in effect. No tariffs are being imposed in El Salvador. We trust that the authorities are already addressing this issue through the appropriate channels. We reiterate that El Salvador has been a reliable trading partner for the United States, respectful of international trade rules and committed to trade facilitation. We are concerned about the potential impact of these measures. We also believe it is important to analyze the pros and cons of this measure once its regulations are known. It is essential that exporters verify compliance with the rules of origin in their current operations. Above all, it is crucial to remain calm while the practical application criteria for this measure are clarified. We will continue to provide updates as new official information becomes available. COEXPORT has offered its support with any necessary procedures, information, assistance, or anything else that may be required.