Marcos imposes zero tariff on tin mill black plates

MANILA, Philippines — President Marcos has imposed a zero duty on the main material in producing tin plates and tin-free steel used in the canned food industry to reduce production costs and stabilize the supply chain.

Under Executive Order (EO) 104 signed by Executive Secretary Lucas Bersamin by the authority of President Marcos on Nov. 6, the import duty on tin mill black plates will be reduced to zero from three percent for three years.

The order noted that there is no local production of tin mill black plate and there is no local product that can substitute for it.

The Economic and Development Council had stated that temporarily modifying the import duty rate on tin mill black plate would revitalize domestic tin plate and tin-free steel industries and promote consumer welfare by stabilizing the supply chain, lowering production costs, generating jobs and fostering a favorable investment environment, the EO added.

The council endorsed the reduction of the most favored nation tariff rate on the primary material in producing tin plates and tin-free steel used in cans for canned food on Aug. 30.

The suspension of the tariff rate will be subject to review after a year.

The Department of Economy, Planning and Development (DEPDev) was tasked to submit to the Office of the President its findings and recommendations on the policy, including the analysis and monitoring of the results of the tin mill black plate market.

The Customs Modernization and Tariff Act allows the President upon the recommendation of the DEPDev to adjust import duty rates in the interest of general welfare and national security.