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
