Peru's Trade Ambitions: Eyes on India and U.S. Tariffs

Peru is in the final stages of negotiating a free trade agreement with India, targeting a 2027 signing. India is now Peru's second-largest export destination, with gold driving exports. The country is also discussing new U.S. tariffs impacting agricultural exports post the 2009 tariff-free trade agreement.

Peru is eagerly awaiting India's response to a recent counterproposal as negotiations for a free trade agreement enter the final phase. Minister for Trade Rogers Valencia indicated hopes of ratifying the deal by 2027.

India emerged as Peru's second-largest export market this year, surpassing the United States, thanks to robust gold shipments. Data reveals exports to India reached $6.184 billion from January to July, a substantial increase from the previous year.

Amid discussions with U.S. Secretary of State Marco Rubio, Peru is also navigating new U.S. tariffs affecting its agriculture sector. Immediate travel to the U.S. is planned for further negotiations, with focus shifting toward alleviating export challenges.