Peru: Tariff pause will allow negotiations and showcase FTA benefits

12:23 | Lima, Apr. 10.

Foreign Trade and Tourism Minister Desilu Leon stated that the application of a universal 10% tariff by the United States on imports from nearly all countries —except China, which will face a 125% tariff— would mainly benefit countries that had previously faced higher tariffs, by temporarily aligning them to a common 10% scheme.

In the case of Peru, which has a Free Trade Agreement (FTA) with the United States, the additional 10% tariff would continue to apply to products that had previously entered tariff-free.

Within this framework, the government official noted that she considers this pause to open space for technical dialogue on trade matters of interest, which will allow for continued efforts to arrange meetings aimed at reviewing the treatment applicable to Peruvian products and strengthening our position as a reliable trade partner.

The government official indicated that Peru is among the countries that have requested technical meetings with the United States Trade Representative (USTR), the competent authority on foreign trade in that country.

Similarly, she reaffirmed the Government's commitment to strengthening bilateral dialogue on trade matters.

"This approach will allow us to highlight the strategic value of our trade relationship and substantiate the mutual benefits of the FTA, which has been in effect for over a decade," Leon noted.

"We can demonstrate that the trade balance with Peru does not pose a risk to U.S. interests and that our exports meet high technical, sanitary, and environmental standards. Likewise, we are willing to address, in a technical and transparent manner, some concerns raised by that country, which from our perspective do not constitute trade barriers," she underlined.

The Cabinet member explained that the Ministry of Foreign Trade and Tourism (Mincetur) is leading a coordinated effort with sectors such as Economy and Finance, Foreign Affairs, Production, and Agrarian Development and Irrigation to define a clear and technically-supported national position on the issues identified at this stage.

"At the same time, coordination is underway with the private sector, whose participation is essential to understand firsthand the impacts faced by different production chains and to have direct evidence to support our position," she pointed out.

In parallel to efforts with the United States, Minister Leon stated that Mincetur is strengthening actions aimed at diversifying markets and promoting Peru's exportable offer in other destinations.

"We are actively participating in international trade fairs, trade missions, and business roundtables as part of a complementary strategy that seeks to reduce risks and open new opportunities for our exporters," she stated.

Mincetur is also promoting the opening of new markets, with special emphasis on ongoing trade negotiations with Guatemala, El Salvador, India, Indonesia, and the upcoming start of negotiations with the United Arab Emirates.

(END) NDP/JJN/JMP/MVB

Published: 4/10/2025