The Philippine Department of Trade and Industry (DTI) will not agree to the position of the Department of Finance to stop the extended zero tariff on cement and wheat, steel and petroleum products, but is open to reviewing zero tariffs on other commodities in light of the strong peso which has affected the Bureau of Customs’s collection.
DTI Secretary Gregory L. Domingo told reporters at the opening of the 52nd edition of the FAME at the World Trade Center that he had discussions with Finance Secretary Cesar V. Purisima for the tariff review on items with zero duty already.
He, however, said this review would not cover cement and wheat, which executive orders that would extend tariffs for another six months are ready for release during the Congressional recess. This would be the second extension for zero on both commodities, which regular rates are pegged at 5 for cement.
’It is too late already, we have to issue the EO during the Congressional recess,’ Domingo said. Congress went on recess starting yesterday, Monday, and will resume session by November 8.