Peru plans a US delegation to address looming copper tariffs from the Trump administration. Minister Jorge Montero emphasizes the need to mitigate negative impacts on copper exports, the country’s main product, while asserting Peru’s position as a non-aligned strategic ally open to global investments.
Peru, a major copper producer, is preparing to send a delegation to the United States following the announcement of potential copper tariffs by the Trump administration. The tariffs may pose a threat to Peru’s largest export product, copper. Energy and Mines Minister Jorge Montero mentioned in Lima that they aim to minimize the adverse effects of any restrictive measures imposed by US interests.
As the third-largest copper supplier globally, Peru exports a significant portion of its copper to the US, although most shipments are in semi-processed form directed to Chinese smelters. Notably, Freeport-McMoRan Inc., the leading US copper producer, oversees Cerro Verde, one of the largest copper mines in Peru.
Montero also noted that other Peruvian products, such as blueberries and table grapes, could be influenced by these US tariffs; however, he did not elaborate on specific details. He emphasized Peru’s position as a strategic ally for the US, while also asserting its openness to partnerships with various nations, indicating, “Peru is a non-aligned country, one that’s open to investments and business with everyone. We are not committed to a particular geopolitical vision.”
In summary, Peru is proactive in addressing potential challenges from US tariff proposals by organizing a delegation to negotiate with US officials. The country’s reliance on copper exports, alongside its broader commitment to maintaining a diverse international trade approach, underscores its strategic importance and flexible economic stance amidst shifting geopolitical landscapes.
Original Source: www.mining.com
