US Trade Deal with Peru 8-7-25

US exports to Peru

·       In May 2025, the United States exported $1.01B to Peru.

·       Key US exports to Peru in May 2025 included refined petroleum ($306M), petroleum gas ($72.8M), and crude petroleum ($53.5M).  

US imports from Peru

·       In May 2025, the United States imported $780M from Peru.

·       Major imports from Peru in May 2025 included refined copper ($141M), raw tin ($54.6M), and tropical fruits ($40.5M). 

US-Peru trade balance

·       In May 2025, the US had a positive trade balance with Peru of $233M.

·       However, US exports to Peru experienced a 2.64% decrease from May 2024 to May 2025, dropping from $1.04B to $1.01B.

·       US imports from Peru, on the other hand, surged by 45.6% during the same period, rising from $536M to $780M. 

Trends and context

·       According to the US Census Bureau, total goods trade between the US and Peru was estimated at $20.6 billion in 2024.

·       US goods exports to Peru in 2024 were $11.2 billion, down 5.4% from 2023, while imports from Peru in 2024 totaled $9.4 billion, up 7.2% from 2023.

·       The overall US goods trade surplus with Peru decreased in 2024 to $1.9 billion, a 40.5% decrease compared to 2023. 

Note: These figures represent the latest available data, and the full picture of 2025 trade between the US and Peru will become clearer as the year progresses.

https://www.google.com/search?q=us+imports+v+exports+with+peru+2025

In May 2025, the United States had a positive trade balance with Peru, with exports reaching $1.01 billion and imports at $780 million, resulting in a surplus of $233 million, according to The Observatory of Economic Complexity. This represents a decrease in exports from the previous year, while imports saw a significant increase. 

Key details:

Exports: U.S. exports to Peru in May 2025 were $1.01 billion. 

Imports: U.S. imports from Peru in May 2025 were $780 million. 

Trade Balance: The U.S. had a trade surplus of $233 million with Peru in May 2025. 

https://www.google.com/search?q=us+imports+v+exports+with+peru+2025

Peru's nominal GDP in 2025 is projected to be around $303.29 billion USD. Peru's nominal per capita GDP for 2025 is estimated to be around $8,810 USD. Peru Population is 34,576,665. In Peru, the unemployment rate is fluctuating around 6.4% in mid-2025.

The US imposed a 10% baseline tariff on all trading partners, including Peru, effective April 5, 2025. This tariff applies to a wide range of imports.

For copper imports from Peru in 2025, the U.S. has implemented a 50% tariff on semi-finished copper products (such as pipes, rods, sheets, and tubes) and copper-intensive derivative products (like pipe fittings, cables, connectors, and electrical components), effective August 1, 2025. 

https://www.google.com/search?q=what+is+the+us+tariff+on+copper+imports+from+peru+2025

Comments

The 50% Tariff on Copper is being imposed by the US to allow US based Copper Mines to expand production. The goal is to make the US “self-sufficient”. It also increases mining jobs in the US.

Norb Leahy, Dunwoody GA Tea Party Leader