Peru's Exporters Association (ADEX) held the First Cocoa and Coffee Trade Forum on Friday in Lima, where attendees stated that the tariff barriers imposed by the United States are impacting various industries in the country, including agriculture.
Luis Alberto Solano, head of aviation business of ADEX, said that the rise in tariff has led to a reduction in their export volume.
"The increase in tariffs came as a surprise. Some goods are already about to arrive in the United States as originally planned. This has, to some extent, reduced our export volume. [Things will not get better] unless the matter is resolved, perhaps by reducing tariffs or renegotiating prices," said Solano.
Nicolas Chavez, general manager of Cacaosuyo, a well-known chocolate brand in Peru, said that the company is reassessing the annual expected export volume.
"Our exports to the United States have declined. The expected annual export volume has indeed decreased, impacting our initial export plans. It is necessary to reassess the annual expected export volume," said Chavez.
Participants of the forum also expressed that the United States' tariff policies will backfire American society and consumers.
"We believe that the increase in commodity prices may also trigger inflation in the United States, thereby dampening consumption," said Cesar Tello, president of ADEX.
Peru has requested that the United States suspend a 10 percent tariff on Peruvian goods. According to the country's foreign minister, the new tariff violates the spirit of the U.S.-Peru Free Trade Agreement, under which 98 percent of Peruvian exports to the United States are supposed to enter duty-free.
Peruvian exporters voice concerns over US tariff hikes
Peruvian exporters voice concerns over US tariff hikes
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
