Philippines extends reduction in customs duties on pork until 2028

Published Jun 14, 2024

Tridge summary

The National Economic and Development Authority (NEDA) of the Philippines has approved the global tariff calendar for 2024-2028, maintaining current tariff rates for over half of the tariff lines, especially for raw materials and intermediate production factors. Reduced customs duties on corn, pork, and mechanically deboned beef will continue until 2028 to ensure stable supply, manage inflation, promote policy stability, and strengthen food security. Tariff coverage for other agricultural products, including complete feed and feed mixtures, will also be maintained.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Board of Directors of the National Economic and Development Authority (NEDA) of the Philippines approved the new global tariff calendar for 2024-2028. Current rates will be maintained on more than half of the tariff lines covering various agricultural and industrial products with relatively low rates, in particular for raw materials and intermediate factors of production used in manufacturing. The reduced rates of customs duties on corn, pork, and mechanically deboned beef under Executive Order No. 50, s. 2023, will also be maintained until 2028, in order to ensure a stable supply of these products, help manage inflation, promote policy stability and investment planning, and strengthen food security. ...
Source: 3tres3
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