Philippines Imposes Safeguard Duty on Vehicle Imports
The Philippines recently increased import duties on certain vehicles to protect the domestic vehicle manufacturing industry, the Hong Kong Trade Development Council reported Jan. 22. The country will impose an additional safeguard duty on certain passenger cars and “light commercial”…
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vehicles beginning Jan. 20 for a period of at least 200 days, the report said. An auto trade group applauded the move, but importers and carmakers said the increased duty will reduce sales and increase vehicle prices, the HKTDC said. The safeguard duty equates to $1,457 in U.S. dollars per imported passenger car and $2,287 for every imported light commercial vehicle.