Overview
- The presidential proclamation, in force Wednesday, applies tariffs of up to 50% on many copper goods made in Peru, which in many cases are charged on the full value of the product rather than only the metal content.
- Higher duties target value‑added items such as wires, bars, profiles, sheets, strips and fittings, while raw copper materials like ores, cathodes and scrap keep their current access to the U.S. market.
- Industry groups say roughly US$418 million to US$500 million in 2025 copper‑product exports to the U.S. could be exposed, with cost pressure on processes such as drawing, rolling and extrusion.
- Peru’s trade ministry said it opened talks with U.S. counterparts, launched a technical assessment of the measure’s legal and commercial impact, and is speeding up market‑diversification efforts through trade fairs, missions and new negotiations.
- Analysts note the change in the tax base may have limited extra effect on Peru’s main exports like bars and plates, which are about 99% copper and already faced the effective rate, but mixed‑material goods could see sharper price increases at the border.