IARN — Philippine President Ferdinand Marcos, Jr. announced this week his plans to extend the country’s reduced most favored nation (MFN) tariff rates on imported pork through the end of 2023. The reduced rates, implemented in mid-2021, cut the tariff on in-quota pork cuts from 30% to 15% and for out-of-quota shipments from 40% to 25%.
Dave Rentoria, U.S. Meat Export Federation Philippine representative, said the tariffs were cut in an effort to combat food inflation on a key item in the Philippine diet. That rate cut opened a door for expanded U.S. pork products.
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Photo courtesy of U.S. Meat Export Federation
