The recent implementation of a new tariff package by the United States government is marking a turning point in global trade.
A general 10% tariff on most imported products recently came into effect, affecting dozens of countries, including key Latin American trade partners such as Mexico and Brazil.
"Although Peru has not been included in the list of countries with additional tariffs, its exports are already facing this new general 10% rate, which requires a strategic review of its value chains and market access," UHY Blancas Sandoval y Asociados Managing Partner Carlos Sandoval remarked.
In this regard, U.S. trade policy is unfolding amid growing geopolitical tension between the U.S. and China, which is pushing many companies to relocate or diversify their supply chains away from the Asia-Pacific axis.
In this context, Peru emerges as a competitive alternative for attracting investments in manufacturing, assembly, and technology.
"The Peruvian government has intensified its efforts to attract foreign companies interested in setting up production plants in the country. An example of this is the recent invitation to Chinese automaker BYD to establish an assembly plant in Peru, leveraging the Chancay Megaport, which is positioning itself as the new logistics hub of the South Pacific," Sandoval explained.
Meanwhile, the managing partner indicated that various blueberry and avocado producers in northern Peru are already receiving significant orders from U.S. importers.
"The same will happen in various sectors such as minerals and other agro-industrial products," he mentioned.
It is worth noting that Peru is seeking US$24 billion in investment to fund new dams nationwide. This ambitious project would allow the expansion of the agricultural frontier by up to one million hectares, positioning the country as a world leader in food production, with the potential to supply the most demanding markets in the world.
"In this new environment, Peruvian companies must adapt swiftly, identify opportunities in the reconfiguration of international trade, and establish strategic alliances that allow them to remain globally competitive," he concluded.
(END) NDP/GDS/JMP/MVB