Marcos extends lower import duties on pork, rice, corn, coal

Through an executive order, President Ferdinand 'Bongbong' Marcos Jr. has extended the temporary modification of rates of import duty on various products to maintain affordable prices and ensure supply of agricultural products.

In his order, Marcos said there is a need to extend the effectivity of the reduced tariff rates on rice, maize, coal, and meat of swine "to maintain affordable prices for the purpose of ensuring food security, help augment the supply of basic agricultural commodities in the country, and diversify the country’s market sources, among others."

Meanwhile, the tariff rates on coal shall be subjected to a semestral review after December 31, 2023.

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gmanews /  🏆 11. in PH

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