Peru is subject to a 10% baseline tariff that was imposed through United States (US) President Trump's Executive Order 14257, issued on 2 April 2025. The baseline tariff applies to all US trading partners, effective 5 April 2025. The Executive Order also announced President Trump's Reciprocal Tariff Policy, imposing tariffs against specific countries; these additional tariffs were to be effective 9 April 2025 but were later paused for 90 days.

The baseline tariff applies to all imports from all trading partners, with specific increases outlined for certain countries, as detailed in Annex I to the Executive Order. Certain goods are exempt from the ad valorem rates of duty outlined in the order, including products listed in Annex II, such as copper, pharmaceuticals, semiconductors, lumber, critical minerals and energy products.

Implications

The United States is Peru's second largest trading partner and the primary destination for nontraditional Peruvian exports, such as fruits and vegetables. The 10% baseline tariff will have a direct impact on various agricultural and textile products originating from Peru that are imported into the United States. Companies that import these products into the United States, as well as companies that export to the US market, should identify the potential impacts of the measures adopted, explore potential strategies to address the measures and consider possible commercial opportunities under this new context.