Peru is responding to US tariff threats on copper by sending a delegation to US officials. Energy and Mines Minister Jorge Montero emphasizes the need to adapt to changing trade rules. Peru seeks to protect its main export and asserts its status as a non-aligned strategic ally.
Peru, a leading copper producer, is preparing to dispatch a delegation to engage with United States officials concerning potential tariffs on copper, a move recently announced by the Trump administration. Energy and Mines Minister Jorge Montero remarked, “The rules of the game are changing quickly under the new North American administration,” highlighting the urgency of the situation as Peru aims to mitigate adverse effects on its principal export.
Although Peru primarily exports semi-processed copper to smelters in China, its connection with the US market is notable, particularly as Freeport-McMoRan Inc., a major US copper producer, operates Cerro Verde, one of Peru’s largest mines. However, Minister Montero refrained from elaborating on the impact these tariffs might have on other agricultural products from Peru, such as blueberries and table grapes.
Montero further stated, “Peru is a good strategic ally for the US on business issues, but not just for the US,” emphasizing Peru’s non-aligned stance and its commitment to fostering trade relationships with various nations. The Peruvian government seeks to underscore its openness to diverse investments while navigating the complexities of US trade policies.
In light of potential US tariffs affecting copper, Peru is proactively sending a delegation to discuss the situation with US officials. The country recognizes its significant export reliance on copper and strives to safeguard its economic interests. By asserting its non-alignment and openness to various international partnerships, Peru aims to mitigate the risks posed by changing geopolitical dynamics.
Original Source: www.mining.com
