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The National Economic and Development Authority Board (NEDA) approved the new Comprehensive Tariff Program 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 applied tariffs, particularly for raw materials and intermediate inputs used in manufacturing.
The reduced tariff rates on corn, pork, and mechanically deboned meat under Executive Order No. 50, s. 2023, were also maintained until 2028 to ensure a stable supply of these commodities, help manage inflation, promote policy stability and investment planning, and enhance food security. Moreover, the NEDA Board has retained the tariff cover for various other agricultural products including complete feeds, and feed preparations.
The President will issue an executive order to implement this new tariff program.
June 4, 2024/ National Economic and Development Authority/ Philippines.
https://neda.gov.ph
