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Peru

US Revised Tariffs (%)

10

Ease of doing business

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Share of US Imports % (1 implies <1%)
US Tariff %
Revised Tariff %
Country Tariff Rate %
1
10
10
0.7
Exports (in USD Bill.) 2024
Imports (in USD Bill.) 2024
Balance (in USD Bill.) 2024
11.22
9.36
1.86

US Revised Tariffs

Country Tariffs

Balance of Trade

Commercial Guide

Learn about the market conditions, opportunities, regulations, and business conditions in countries, prepared by U.S. Embassies worldwide, Commerce Department, State Department and other U.S. agencies’ professionals

Tariff Rate for US

World Bank staff estimates using the World Integrated Trade Solution system, based on tariff data from the United Nations Conference on Trade and Development's Trade Analysis and Information System ( TRAINS ) database and global imports data from the United Nations Statistics Division's Comtrade database.

US Imports Guide 

United States Imports from Countries during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from Countries- data, historical chart and statistics - was last updated on April of 2025.

Implications

As of Sunday, April 20, 2025, here's the latest update on tariffs involving Peru: United States Tariffs on Goods from Peru: 10% Baseline Tariff: As part of a broader U.S. trade policy implemented on April 5, 2025, a 10% baseline tariff is now applied to imports from almost all trading partners, including Peru. This directly impacts Peruvian agricultural and textile products entering the U.S.   Peru's Request for Suspension: Peru has formally requested the United States to suspend this 10% tariff. Peruvian Foreign Minister Elmer Schialer stated that this measure contradicts the spirit of the U.S.-Peru Trade Promotion Agreement (TPA), under which 98% of Peruvian exports to the U.S. were intended to be duty-free. Peru argues that with a pre-existing average tariff of 2.5% on U.S. goods, the new 10% tariff results in a non-reciprocal total tariff of 12.5% on Peruvian goods.   U.S. Response: The U.S. has indicated that Peru's request will be considered, acknowledging Peru as a strategic partner. However, as of this update, the 10% tariff remains in effect. Potential Copper Tariffs: Earlier, in March 2025, the U.S. Commerce Secretary announced a potential 25% tariff on imported copper. While no specific date for implementation has been announced, and it's unclear if this was a negotiating tactic, this remains a concern for Peru, a significant copper exporter. Peru's Tariffs on Goods from the United States: U.S.-Peru Trade Promotion Agreement (TPA): This agreement, in effect since February 1, 2009, has eliminated tariffs on most U.S. consumer and industrial goods exports to Peru. Agricultural Products: Tariffs on nearly 90% of U.S. agricultural exports to Peru have been eliminated, with the remaining tariffs scheduled to be phased out by 2026. Overall Low Tariffs: Peru generally has low import tariffs. The non-weighted average tariff rate is around 2.2% (including surcharges). Approximately 70.4% of items in Peru's tariff schedule have zero duties. Value Added Tax (VAT) and Excise Tax: Most imports (around 93% of tariff codes), including those from the U.S., are subject to an 18% Value Added Tax (VAT), similar to domestically produced goods. An excise tax (ISC) is also applied to certain products like tobacco and alcohol.   Impact and Reactions: Peruvian Concerns: Peru is worried about the negative impact of the 10% U.S. tariff on its exports, particularly non-traditional exports like fruits and vegetables, and the potential loss of competitiveness and jobs.   Trade Negotiations: Peru has requested to reopen talks with the U.S. not only regarding the 10% tariff but also concerning non-tariff barriers related to intellectual property, health regulations, and government procurement. The U.S. has responded positively to this request.   Wider Economic Impact: Analysts suggest that the broader U.S. tariffs could indirectly harm Peru by slowing down the economies of major trading partners like China, which is a significant importer of Peruvian commodities like copper and iron ore. In summary, while the U.S.-Peru TPA largely aimed for duty-free trade, the recent 10% baseline tariff imposed by the U.S. is a significant concern for Peru, which is actively seeking its suspension and further trade negotiations. The potential for tariffs on Peruvian copper adds another layer of uncertainty to the trade relationship.

US Negotiation Strategy

Based on the latest data from 2024, the top imports to the US from Peru by value include: Edible fruits, nuts, peel of citrus fruit, melons ($2.98 Billion) - Examples: Grapes, Blueberries, Avocados   Copper ($917.01 Million)   Articles of apparel, knit or crocheted ($799.36 Million) Edible vegetables and certain roots and tubers ($514.69 Million) - Examples: Asparagus Coffee, tea, mate and spices ($510.64 Million) Here's a breakdown of the US states that can manufacture similar goods, along with examples of companies: Edible Fruits and Vegetables: California: A leading agricultural state producing a wide variety of fruits (grapes, avocados, berries) and vegetables (asparagus). Companies: Wonderful Company (grapes, citrus, almonds, pistachios), Calavo Growers (avocados), Driscoll's (berries). Florida: Significant producer of fruits (berries, citrus) and vegetables. Companies: Wish Farms (berries), Florida's Natural Growers (citrus).   Washington: Major producer of apples, berries, and other fruits. Companies: Stemilt Growers (apples, cherries), Rainier Fruit Co. (apples, pears, cherries).   Georgia: Known for peaches, blueberries, and vegetables. Companies: Lane Southern Orchards (peaches, pecans), Naturipe Farms (berries).     Copper: Arizona: Has significant copper mining and processing operations. Companies: Freeport-McMoRan, Asarco (owned by Grupo México).   Utah: Also has copper mining and smelting activities. Companies: Rio Tinto Kennecott. New Mexico: Has copper mining operations. Companies: Freeport-McMoRan.     Articles of Apparel (Knit or Crocheted): California (Los Angeles): A hub for apparel manufacturing, including knitwear. Companies: American Apparel, Los Angeles Apparel, Bella+Canvas. North Carolina: Has a history in textile and apparel production, including knit fabrics and garments. Companies: Parkdale Mills (yarn and fabric), Gildan Activewear (operates facilities in the US).   South Carolina: Also has textile and apparel manufacturing. Companies: Milliken & Company (textiles).   Coffee and Spices: While the US doesn't commercially grow coffee on a large scale due to climate, there are roasting and processing facilities in many states. Companies: Starbucks (various states), Folgers (Ohio, Louisiana), Kraft Heinz (various states). Spice production and processing occur in various states. Companies: McCormick & Company (Maryland), B&G Foods (various states).   It's important to note that while these US states and companies can produce similar types of goods, the specific varieties, qualities, and scales of production might differ from those imported from Peru. Additionally, some raw materials like coffee beans and certain minerals are not as readily available in the US, making imports necessary.

Investing in USA

theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters

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Sources : Forbes | USDA Economic Research | TCGen Total Innovation Rank Index | Best States for Manufacturing | World Population Review | Tax Foundation | US News | BEA Data | Wikipedia | International Trade Administration

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theboardiQ's Economic Relevance Score provides a comprehensive, data-driven assessment of a nation's economic vitality and global significance. This score is meticulously calculated using 11 key parameters, each reflecting a critical facet of economic performance. It analyzes the representation of Fortune 500 companies within a nation, a strong indicator of its business environment and market size. The balance of trade surplus or deficit reveals the nation's international competitiveness and export strength. It incorporates Gross Domestic Product (GDP), a fundamental measure of overall economic output, and examine the health of key sectors like agriculture and manufacturing. The score also accounts for innovation, gauging a nation's ability to drive future growth through technological advancements. Crucial labor market indicators such as employment rates are considered, alongside fiscal policies reflected in tax rates. To capture the lived experience of citizens, it assesses cost of living and disposable income, providing insight into purchasing power and economic well-being. Finally, education levels are integrated, recognizing their pivotal role in fostering a skilled workforce and driving long-term economic development. By synthesizing these 11 parameters, theboardiQ's Economic Relevance Score delivers a nuanced and holistic view of a nation's economic standing, enabling informed strategic decisions. The Top 5 States in the assessment are Texas, North Carolina, Virginia, Florida and Washington. Texas does consistently well across most of the 11 variables especially in the areas of GDP, F500 representation in the State, Balance of Trade where it ranks 2nd nationally. North Carolina scores as the highest-ranking state nationally in manufacturing and performs consistently across the other variables. Virginia does well in disposable income where it ranks 3rd nationally. It also scores high in the variables of manufacturing and employment Florida holds the 4th ranking nationally for GDP and Tax Washington State scores the top spot for disposable income nationally, 2nd for education and 3rd for innovation. Colorado, with an overall rank of 7 scores the top spot for Education (schools and higher education). Nebraska, that ranked 10th overall, did well in Agriculture where it is ranked 3rd nationally as well as Trade Balance where it ranked 5th. Illinois, though ranked 20th overall did well nationally in F500 representation, GDP, Agriculture, and Disposable Income. Pennsylvania comes in at 21 overall doing well nationally in GDP (6th); Manufacturing (8th) and F500 representation (8th) New York scores 23rd overall with a 2 ranking in Disposable Income nationally, as well as 3rd in both F500 representation and GDP. California comes in at 29th overall and has the top spot ranking in a whopping 4 variables nationally – GDP, Innovation, Agriculture and F500 representation. However, performance in the areas of Trade Balance, Cost of Living, Tax, Manufacturing and Employment resulted in the overall ranking dipping. Wyoming at 30th overall scores the top spot nationally in the area of Tax Massachusetts at 31 overall does well in innovation where it is ranked 2nd nationally Arkansas at 36 and Alabama at 39, do well in overall Cost of Living where they are ranked 2nd and 3rd nationally, respectively. Louisiana ranked 44th overall is ranked 1st in Trade Balance nationally.

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