, will send a note to the U.S. Department of State requesting clarification
The diplomat stated that the document will request an explanation of what Chapter 4C of the executive order issued by the U.S. President will mean for Peru.
The minister explained that this chapter mentions the possibility of reconsidering the measure when there is evidence of trade convergence and openness with the U.S., which is the case for Peru.
In this regard, Schialer said
the diplomatic note highlights that the Free Trade Agreement (FTA) between Peru and the U.S. has a high level of trade convergence benefiting the U.S. Therefore, he believes that the tariff measures in the case of Peru could be reviewed.
"Peru has a trade deficit; yes, a deficit for Peru but a benefit for the U.S. Therefore, the tariff measures could be reviewed (…). Secondly, Peruvian trade, which is very important for Peru, is also significant for the U.S.," he said in remarks to RPP Noticias.
The government official reported that Peru has been working on this issue since late last year, with teams from the Ministries of Foreign Trade-Tourism, Production, Energy-Mines, and Economy-Finance. This has been done structurally and at different levels, under the leadership of President Dina Boluarte.
"It is not true that we have just found out and are only now reacting. That is false. We have been working intensively; I have been to Washington, D.C., at least three times, and this weekend I am traveling there again to discuss, among other things, this issue," Schialer clarified.
The Foreign Affairs minister noted that one of the first expected effects of the 10% tariff increase will be a rise in the price of exported products. Thus, the government is evaluating measures to support those productive units, such as reducing logistical costs or providing other incentives.
Regarding the FTA with the U.S., he stated that it must be respected, but the parts of the agreement that can be improved should also be evaluated.
Lastly, he considered that greater use should be made of the FTA, as statistics indicate that only 60% of exports to the U.S. currently fall under the agreement, while the rest operate outside of it, likely because there was no prior necessity.
(END) MCA/JCC/JMP/MVB