US wants existing concessionary tariff rate in Manila to be permanent
Washington wants Manila to reduce barriers on stateside farm products to allow a more liberalized trade between the two nations.
According to a recently published US Trade Representative report, the Trump administration is proposing to make concessionary rates under Executive Order 23, which extends for three years the lower most-favored nation (MFN) duties, to be permanent.
Under the new MFN rate, mechanically deboned or separated meat from the US will be levied only 5 percent. This, however, will revert back to 40 percent once EO 23 expires in 2021.
Other products under the law include U.S. made cheese yoghurt, curdled milk, buttermilk and other fermented and acidified milk and cream products which were kept at a measly 1 percent import tax. Meanwhile, potato products remain duty-free.
Washington is also pressuring the Duterte administration to remove the two-tiered system on handling frozen and freshly slaughtered meat products being sold in wet markets in the country, the Business Mirror reported.