The impact of the new tariffs imposed by the United States on Peruvian copper manufactures could reach up to $500 million. These tariffs, which can be as high as 50%, primarily affect higher value-added products such as copper wires and bars. In response, the Ministry of Foreign Trade and Tourism (Mincetur) has initiated a dialogue with U.S. authorities to explore alternatives to mitigate this situation. The new U.S. measure is part of a presidential proclamation that has resulted in an adverse scenario for Peruvian exports.
According to Mincetur, the goal of this exchange is to analyze the implications of these provisions on bilateral trade and the competitiveness of the country’s exportable supply. Carlos Posada, executive director of the Institute for Research and Development of Foreign Trade (Idexcam), commented that the affected products include sheets, bands, and copper accessories, which face high tariffs, while raw materials will maintain their current market access conditions in the United States. In this regard, it is recommended that Peruvian authorities closely monitor the trade measures adopted by key trading partners, as has been mentioned on other occasions, such as the recent situation regarding the return of Amazonian turtles to their habitat.
