Hogan Lovells successfully challenges Peru’s proposed countervailing duties on U.S. yellow corn exports
Washington D.C., 24 January 2020 – International law firm Hogan Lovells served as counsel to the U.S. Grains Council, as well as leading agriculture industry companies, in their successful challenge to a false claim that Peruvian corn producers were being injured by U.S. corn exports to Peru.
The final decision by Peru’s National Institute for the Defense of Free Competition and the Protection of Intellectual Property (Indecopi) was published on Wednesday, after 18 months of intense litigation.
Indecopi agreed with the U.S. associations and industry that there was no evidence that U.S. yellow corn exports to Peru caused material injury to Peru’s domestic corn producers, and therefore terminated their trade investigation without imposing any countervailing duties. As a result of Indecopi’s decision, the corn trade between the U.S. and Peru is expected to continue to flourish.
“The U.S. and Peru have an important trade agreement that has been balanced and provides benefits for both countries and their stakeholders. This week’s welcome decision will help maintain that balance, allowing U.S. farmers to continue to export corn to Peru without facing additional trade restrictions,” said Deen Kaplan, co-head of Hogan Lovells’ International Trade and Investment practice. “Peruvian consumers are also big winners in this matter as U.S. yellow corn exports are an important part of the Peru market.”
The Hogan Lovells team was led by Kaplan as well as international trade and arbitration advisor Maria A. Arboleda, and included partners Warren Maruyama and Jared Wessel. The team in Peru was led by Pierino Stucchi and Raul Alosilla of Estudio Muñiz.