PERU · TRADE
Key Facts
- The country Peru is a copper-exporting Pacific-coast nation led by President Keiko Fujimori, with China as its largest trading partner.
- Why it matters China took about 35% of Peru’s trade in 2025, so rule changes there reach US exporters and investors.
- What happened A decree published 27 October sets 1 November as the start of an upgraded Peru-China trade treaty.
- What it means for you The US-Peru trade deal stays in force, but Chinese suppliers get smoother customs rules in the same market.
- Still open Whether any tariffs change on 1 November, and how much extra trade follows, is not stated.
- Power Index Peru ranks 5th of 14 in The Rio Times Latin America Power Index, with 54.7 points (October 2026 edition).
In Plain English
Protocol of Optimization: an add-on treaty that updates the 2009 Peru-China trade agreement instead of replacing it. It rewrites seven existing chapters and adds five new ones.
Rules of origin: the tests that decide whether a product counts as made in Peru or China and so earns treaty terms. A certificate of origin is the paperwork that proves it.
Mincetur: Peru’s Ministry of Foreign Trade and Tourism, which negotiated the protocol and runs the national trade-agreements website. Its minister is Rogers Valencia.
Peru’s upgraded free trade agreement with China enters into force on Sunday 1 November 2026, Peru’s foreign trade ministry announced on Wednesday 28 October. The change matters to US exporters and investors because China already accounts for about 35% of Peru’s trade, and the rules for that trade are being rewritten.
The start date comes from Supreme Decree 012-2026-MINCETUR, signed by President Keiko Fujimori and published in the official gazette on Tuesday 27 October. It puts into effect a protocol that Peru and China signed in Lima on Thursday 14 November 2024 and that Peru ratified by a decree published on Saturday 25 July 2026.
What Changes on 1 November
The protocol modernizes seven chapters of the original treaty, which Peru and China signed in Beijing on 28 April 2009 and which took effect on 1 March 2010. The seven cover rules of origin, customs procedures and trade facilitation, trade in services, temporary entry of business people, investment, intellectual property, and sanitary and plant-health rules.
It also adds five new chapters on competition policy, electronic commerce, global supply chains, cooperation on standards and conformity checks, and the environment. The ministry says the package aims to ease customs work, improve certificate-of-origin and direct-transport rules, deepen customs cooperation and speed up online trade.
The ministry also points to more investment in areas such as transport, joint Peruvian-Chinese film and television productions, and stronger protection for traditional knowledge and genetic resources. Its summary describes rules and procedures, and it does not announce new tariff cuts.
China’s Weight in Peru’s Trade
Foreign Trade and Tourism Minister Rogers Valencia called China Peru’s first trading partner, with 35% of Peruvian trade in 2025 and the main destination for its exports. He said the modernized treaty will keep the agreement in step with new trade dynamics and create openings for small and medium-sized firms.
In the first quarter of 2026, the ministry reports, Peru’s exports to China reached US$10.7 billion, up 42.6% from a year earlier. Imports from China totaled US$5.0 billion, up 19.4%, led by automotive and heavy-industry products, which rose 59%.
Non-traditional exports, mostly farm and fishing products, were about 3% of Peru’s shipments to China at US$297 million, but they grew 83.7%. Among imports, steel rose 19%, computing technology 13.8%, and wood and paper 15.5%.
How the Upgrade Came Together
Talks on the upgrade opened in April 2019 in Beijing and ran through seven rounds, the last in June 2024 in Beijing. In June 2024 the two trade ministries signed a memorandum confirming that the negotiation had substantially concluded.
The protocol itself was signed on 14 November 2024 during a state visit to Peru by Chinese President Xi Jinping. Under its Article 15 it takes effect 60 days after both sides confirm in writing that their legal steps are complete, or after another period they agree, and the two governments set 1 November 2026 as the date.
What It Means for You
For US exporters, the US-Peru Free Trade Agreement of 1 February 2009 stays in place, and the Office of the US Trade Representative says all tariffs on US farm goods are scheduled to be eliminated by 2026. The China protocol applies only between Peru and China, so Chinese suppliers also get smoother customs and certificate rules in the same Peruvian market where US firms compete.
US Census Bureau data show US goods exports to Peru of US$12.1 billion and imports from Peru of US$10.7 billion in 2025, a US surplus of US$1.4 billion. In the first eight months of 2026, exports were US$9.5 billion and imports US$7.3 billion, a surplus of US$2.3 billion.
In the first quarter of 2026, US customs records show US$3.2 billion of imports from Peru, against the US$10.7 billion in exports to China that Peru’s ministry reports. On those figures China bought roughly three times as much from Peru as US buyers did in the quarter, although the two sources count trade on different bases.
From 1 November, trade between Peru and China will run under new chapters on supply chains, electronic commerce and the environment, and the ministry says the protocol aims to attract investment in transport. For more on how Peru weighs the two powers, see Peru’s Chancay port and the US pressure on China and the Peru country page.
What Is Not Known
The ministry’s summary does not say whether any tariffs change on 1 November, although the decree says the full protocol text is posted on the ministry’s trade-agreements website. It has also not said how much extra trade it expects from the upgrade.
It is not stated how quickly customs offices will apply the new certificate-of-origin rules. Whether the upgrade changes Chinese investment plans for ports such as Chancay has not been stated.
Frequently Asked Questions
When does the Peru-China trade agreement upgrade start?
It starts on Sunday 1 November 2026, under Supreme Decree 012-2026-MINCETUR published on 27 October. The upgrade follows a protocol signed in Lima on 14 November 2024.
What does the Peru-China protocol change?
It modernizes seven chapters, including rules of origin, customs procedures, services, investment and intellectual property. It adds five new chapters on competition, e-commerce, supply chains, standards and the environment.
Does the upgrade affect the US-Peru trade agreement?
No, the decree covers only the Peru-China agreement, and the US-Peru deal in force since 1 February 2009 stays in place. US farm tariffs under that deal are scheduled to reach zero by 2026, according to the US Trade Representative.
How big is China in Peru’s trade?
China took about 35% of Peru’s trade in 2025 and is its main export market, the ministry says. Peru’s exports to China reached US$10.7 billion in the first quarter of 2026.
Sources: Ministry of Foreign Trade and Tourism press release, 28 October 2026; Supreme Decree 012-2026-MINCETUR, official gazette, 27 October 2026; Peru trade agreements website, China optimization page; Office of the US Trade Representative, Peru agreement; US Census Bureau, trade in goods with Peru.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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