President Ferdinand R. Marcos Jr. has issued an executive order temporarily setting the import duty on tin mill black plates (TMBP) to zero percent to support the domestic tin plate and tin-free steel industries that supply the country’s canned food manufacturers.

Under Executive Order (EO)104, signed by Marcos on Nov. 6 and made public on Saturday, the implementation of the 3 percent tariff on TMBP will be suspended for three years.

The measure aims to support local manufacturers, ensure stable supply and prices of canned goods, and maintain the competitiveness of Philippine food processors in both domestic and export markets.

Marcos issued EO 104 following the endorsement of the Economy and Development (ED) Council on Aug. 20, recommending the reduction of the Most Favored Nation (MFN) tariff rate on TMBP.

The Department of Economy, Planning and Development is directed to submit to the President its findings and recommendations, including the analysis and monitoring results of the TMBP market, one year after the implementation of the zero-tariff rate.

To date, there is no local production of TMBP or any substitute product available in the country.

TMBP serves as the primary raw material for producing tin plates and tin-free steel, which are extensively used in the canned food industry.

The ED Council said the temporary modification of the MFN tariff rate would revitalize local tin plate and tin-free steel manufacturing, stabilize the supply chain, reduce production costs, generate employment, and foster a favorable environment for investments.

EO 104 takes effect 30 days after its publication in the Official Gazette or in a newspaper of general circulation. 

PIXABAY PHOTO