The United States is Ecuador's principal trading partner. Major U.S. exports to Ecuador include petroleum products, machinery, computers and electronic equipment, chemicals and fertilizers, transportation equipment, and cereals and grains. Ecuador benefits from duty-free entry into the United States for many of its products under the Generalized System of Preferences. U.S. imports from Ecuador include crude oil, shrimp and prawns, bananas and plantains, cocoa, and cut flowers (roses). Ecuador cancelled 17 of its bilateral investment treaties (BIT) in May 2017, including its treaty with the United States. The cancellation of the U.S.-Ecuador BIT went into effect in May 2018. The Moreno administration has expressed interest in negotiating a new BIT, as well as seeking a commercial trade agreement with the United States. U.S. direct investment in Ecuador is led by the manufacturing and wholesale/retail sectors.