- 10% Baseline Tariff Imposed: On April 2, 2025, a 10% baseline tariff was imposed on all US trading partners, including Peru, effective April 5, 2025, affecting agricultural and textile imports.
- Impact on Peruvian Exports: The tariff will significantly impact Peru’s exports to the US, its second-largest trading partner, particularly affecting nontraditional products like fruits and vegetables.
- Strategic Adjustments Needed: Companies must assess the tariff’s effects, explore strategies to mitigate impacts, and identify new commercial opportunities under the changed trade landscape.
Source EY
