Peru’s Farm Exporters Get A Lifeline As U.S. Rolls Back Food Tariffs
Washington’s decision to scrap tariffs on around 100 Peruvian farm products has instantly changed the outlook for one of Latin America’s most dynamic export sectors.
After months of uncertainty over a 10% “reciprocal” duty on many agricultural imports, those products will now enter the U.S. market tariff-free again, just as American voters grow angrier about the price of food.
The new exemption covers roughly half of the more than 200 food products on which the United States has just reduced tariffs. For Peru, it includes big-ticket items such as avocados and coffee, plus mangoes, lemons, oranges, ginger, cocoa and fruit juices.
Together, these products generated about $1.2 billion in exports to the United States last year, roughly 24% of Peru’s total sales to that market.
Peru’s reliance on the U.S. has deepened: from January to September this year, exports to the American market reached about $6.7 billion, up 8.2% on the same period a year earlier.
Peru Boosts Exports and Investment Despite Partial Tariff Waivers
The standout performer remains blueberries, with around $547 million in sales over the first nine months of the year, even after a slight year-on-year dip.
Ironically, blueberries were left out of the new waiver, underlining that the measure is targeted but not all-encompassing.
In Lima, the trade ministry is presenting the deal as a win for a country that bet on open markets and private investment rather than heavy-handed state control.
Officials argue that tariff relief will encourage new investment in packing plants and processing facilities, helping Peru move beyond fresh produce into higher value-added food exports.
The government’s broader goal is to reach about $85 billion in total exports by the end of 2025, up from roughly $74.7 billion in 2024, helped by agroindustry, a recovering fishing sector and more processed goods.
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