Philippines cuts tariffs for rice, other commodities to fight inflation

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MANILA, June 7 (Reuters) – The Philippine said on Tuesday it has extended the time period of an executive order issued last year that lowers the tariff rate for rice imported from suppliers outside Southeast Asia to 35% from 40%-50%, until the end of 2022.

The government is racing to tame inflation and also cut tariff rates on corn, part of efforts to facilitate the entry of more food imports at lower prices. It also announced the temporary removal of a 7% duty on coal imports, a key fuel in power generation.

Reporting by Enrico Dela Cruz and Karen Lema; Editing by Martin Petty