Peru Prepares US Delegation to Address Threat of Copper Tariffs

Peru is preparing a delegation to discuss potential impacts of US copper tariffs on its major export. Energy and Mines Minister Jorge Montero stresses the need to address these changes promptly. As the third largest copper supplier, Peru aims to maintain its strategic trade relationship with the US while remaining open to various international markets.

Peru, a leading copper producer, is preparing to dispatch a delegation to engage with United States officials in response to the Trump administration’s proposed tariffs on copper. This move comes as these tariffs may significantly impact Peru, which relies heavily on copper exports as its principal export product. Energy and Mines Minister Jorge Montero emphasized the urgency of the matter, stating, “The rules of the game are changing quickly under the new North American administration.”

Montero expressed concerns about restrictive measures that might negatively affect Peru, highlighting the importance of maintaining favorable trade relations. Although Peru is the third-largest copper supplier globally, much of its metal is exported to Chinese smelters, with some shipped to the United States. Mining giant Freeport-McMoRan Inc. operates one of Peru’s largest mines, Cerro Verde.

While the focus is on copper, Minister Montero did not elaborate on other Peruvian agricultural products that might also face tariff repercussions, such as blueberries and table grapes. He remarked, “Peru is a good strategic ally for the US on business issues, but not just for the US. We are not committed to a particular geopolitical vision.”

In summary, Peru’s proactive approach to face potential tariff impacts illustrates its commitment to safeguarding its key export, copper. The nation is determined to maintain its role as a strategic partner for the United States while continuing to foster open trade relationships with other global markets. Peru’s stance reflects its broader geopolitical objectives and readiness to adapt to changing international trade policies.

Original Source: www.mining.com