House passes rice tariffication bill

The House of Representatives on Tuesday approved on third and final reading a measure that would allow the unlimited entry of imported rice, subject to tariff.

House Bill 7735 or the Rice Tariffication bill seeks to impose a 35 percent tariff for rice imported from the Association of Southeast Asian Nations (Asean) countries, regardless of volume. The measure also authorizes the Philippine government to impose a 40-percent bound tariff or maximum identified as most-favored nation rate for in-quota rice imports from non-Asean countries.