Peru is preparing a delegation to the US in response to proposed copper tariffs by the Trump administration. The country aims to protect its vital copper export amid changing trade dynamics. Energy Minister Jorge Montero expressed the importance of Peru’s strategic relationship with the US and its openness to investments globally.
Peru, one of the leading copper producers, is preparing to send a delegation to the United States following the announcement of proposed tariffs on copper by the Trump administration. This initiative is prompted by concerns regarding the potential impact on Peru’s largest export product, copper. Energy and Mines Minister Jorge Montero stated that the rules are rapidly changing under the new administration in North America and emphasized the need for Peru to protect itself against restrictive measures intended to serve US interests.
As the world’s third-largest copper supplier, Peru primarily exports semi-processed copper to China, while maintaining some shipments to the US. Notably, Freeport-McMoRan Inc., a leading US copper producer, owns Cerro Verde, one of Peru’s significant mining operations. Montero, however, did not elaborate on the repercussions for other Peruvian exports that may be affected, such as blueberries and table grapes.
Addressing the significance of the relationship, Montero remarked, “Peru is a good strategic ally for the US on business issues, but not just for the US.” He reiterated that Peru values itself as a non-aligned nation, welcoming investments and business opportunities from all nations without commitment to a specific geopolitical alignment.
In summary, Peru is proactively addressing the looming threat of US tariffs on copper, a critical export for its economy. The country’s delegation aims to negotiate terms that would mitigate potential adverse effects while emphasizing its strategic importance as a partner for the US. Peru’s openness to foreign investments further highlights its commitment to maintaining trade relationships beyond geopolitical influences.
Original Source: www.mining.com
