Peru Intends To Lower Import Tariffs On Footwear And Other Products

The Peru government recently decided to reduce import tariffs on a large number of products in order to curb the rising trend of domestic market prices.

According to Luis Carranza, Minister of economy and finance of Peru, the import duties of 1052 products, including beef, beef products, dairy products, vegetables, fruits, coffee, textiles, clothing, shoes, refrigerators and sewing machines, will be reduced from 17% to 17%.

Some other products will be lowered to 9% from 20% now, including products of raw materials, wheat, rice, dairy products and sugar.

There are 2678 kinds of products that cut tariffs from 12% to 9%, including poultry, yellow corn, edible oil, refrigerated fish, sugar, cocoa, tobacco and mineral products.

Chemical products, sheet metal, pipes, leather products, wood products, paper, cotton, jewelry, steel plates, iron plates, household appliances, automobiles, motorcycles, toys, etc.

He said that the government's move would push the price of products down on the market and benefit the public.

He also does not rule out the possibility that the government will gradually reduce tariffs.