Philippines continues to cut tariffs on pork

To facilitate the importation of more goods at lower prices, President Duterte issued Executive Order 171 to change tariff rates on pork, corn, rice and coal. This is one of the key recommendations of the Economic Development Cluster to combat inflationary influence.

EC No. 171 continues IOs 134 and 135, which lowered the MFN tariff rates for pork and rice imports. The decree also reduces the top-facilitation tariff rates for corn to 5 percent in-quota and 15 percent out-of-quota, citing that corn accounts for more than 50% of the total value of production on large broiler and pig farms.

To help support or lower electricity prices, UE 171 is also temporarily removing the 7% top-facilitation tariff for coal, as it is an important raw material for power generation.