Peru ETF Rises 1.07% as Court Voids IEEPA Tariffs, 25.4% YTD Gain
Supreme Court struck down IEEPA tariffs, prompting a 15% global surcharge under Section 122 and lifting iShares MSCI Peru ETF 1.07% intraday. Year-to-date gain of 25.4% ranks EPU among top U.S. country ETFs as altered tariff rates may bolster Peruvian export volumes.
1. Supreme Court Strikes Down IEEPA Tariffs
The Court’s 6-3 decision invalidated all tariffs imposed under the International Emergency Economic Powers Act, including reciprocal and emergency surcharges on major partners. Within hours, a 10% global tariff was imposed under Section 122 of the Trade Act, later raised to 15% through July 24, reshaping effective U.S. tariff rates and reducing the overall increase from just over 10 percentage points to 9 points since early 2025.
2. Impact on iShares MSCI Peru ETF
Shares of the Peru ETF jumped 1.07% on the ruling, contributing to its 25.4% year-to-date return and ranking it second among U.S.-listed country ETFs. The shift in global tariff dynamics may support Peruvian export volumes—particularly in mining and agriculture—and attract further capital into the ETF in the months ahead.