While the tariff war among the United States, Canada, Mexico, and China is slowly turning into a potential global situation, its economic impact to the Philippines and the world remains uncertain, Chief Presidential Legal Counsel Juan Ponce Enrile said. Juan Ponce Enrile (MB File Photo) "The...
Ellson Quismorio/ MANILA BULLETIN) House Deputy Majority Leader ACT-CIS Party-list Rep. Erwin Tulfo wondered on Sunday, Nov. 10 why the prices of imported rice hasn't gone down despite the huge tariff cut imposed by the Marcos administration....
Albay 2nd district Rep. Joey Salceda (Ellson Quismorio/ MANILA BULLETIN) Economist-solon Albay 2nd district Rep. Joey Salceda says President Marcos ultimately made the right call in enforcing a huge reduction on rice tariffs, since the move is...
The Bureau of Customs (BOC) has reported a decline in revenue collection due to reduced tariffs on rice and zero-import duties on electric vehicles (EVs). According to the BOC, these policy adjustments have resulted in a combined revenue loss of nearly P9 billion in the first nine months of 2024....
The Philippine Statistics Authority (PSA) reported that the government’s decision to lower rice import tariffs is starting to affect consumer prices. In a briefing, National Statistician and PSA Undersecretary Claire Dennis S. Mapa said the tariff reduction significantly contributed to the...
(MANILA BULLETIN) House Speaker Martin Romualdez assured the public Monday, June 24 that the effects of the rice imports tariff slash would soon be felt, possibly before President Marcos' third State of the Nation Address (SONA) on July 22. "We want...
President Marcos has formalized the reduction of tariff rate on rice from 35 percent to 15 percent. MB File Photo/Mark Balmores The rice tariff cut was formalized through Executive Order No. 62 which also ordered the modification of nomenclature and tariff rates on various products to ensure...
The Department of Agriculture (DA) said the Cabinet may reevaluate the proposed reduction in import duties on rice following feedback from various stakeholders regarding its potential implications. In a statement, Agriculture Secretary Francisco Tiu Laurel Jr. said there remains an opportunity for...
Camarines Sur 2nd district Rep. LRay Villafuerte (Facebook) Camarines Sur 2nd district Rep. LRay Villafuerte has challenged those opposing the Palace-ordered 20 percent tariff rate reduction on rice imports to put forward better options in the bid to...
National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said the 15 percent reduced tariff on rice was a balancing act to ensure affordable prices and protect consumers’ interest. In a statement on Monday, June 10, Balisacan said the decision was not made lightly as the...
The government could lose around P20 billion to P22 billion in revenues this year due to the 15 percent tariff reduction on rice imports, Finance Secretary Ralph G. Recto said. Recto, however, said that this could be offset through lowering inflation, which would lead to possible cut on interest...
(Keith Bacongco/MANILA BULLETIN) Following the Palace-ordered tariff cut on rice imports, House Deputy Minority Leader and Basilan lone district Rep. Mujiv Hataman says he is mulling the filing of a measure that would enhance the protection and...
