3 months DTI, LKI buck safeguard duty on imported rice DTI, LKI buck safeguard duty on imported rice
By Bernie Cahiles-Magkilat Trade and Industry (DTI) Secretary Ramon M. Lopez yesterday bucked plans to impose safeguard duty on imported rice saying this would only lead to higher cost of importation and higher prices at retail while a consumer group said the most appropriate measure is to charge traders with “illegal profiteering” under the Price Act. “This is not good now as we just implemented the Rice Tariffication Law. Safeguards would only lead to higher cost of rice imports and higher prices at retail,” Lopez said. The law allowing unlimited rice importation at 35 percent tariff took last effect only ... more