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Marcos imposes zero tariff on tin mill black plates
President Ferdinand "Bongbong" Marcos Jr. has approved a zero tariff rate on imported tin-mill black plates (TMBP) for three years, a crucial material for the food canning industry.
The decision, formalized under Executive Order No. 104, suspends the current 3% tariff on TMBP due to the absence of local production and substitute products.
TMBP is the primary raw material for producing tin plates and tin-free steel, essential components for canned food manufacturing.
The Economic and Development Council recommended this tariff reduction to boost local industries and benefit consumers.
The measure aims to stabilize the supply chain, decrease production costs, create jobs, and encourage investments in the sector.
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 its findings and recommendations on the policy, including the analysis and monitoring of the results of the tin mill black plate market.
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