Philippines Implements Measures to Tackle Inflation and Rice Prices
The Philippines is taking proactive measures to combat rising inflation and stabilize rice prices, a significant staple. Among these measures, a proposed reduction in rice import tariffs aims to lower consumer costs. The government also encourages private-sector-driven rice imports while expediting shipment clearance processes, ensuring sufficient rice supply. To address potential crop losses due to El Niño, the farm ministry recommends additional rice imports of 500,000 metric tons. Despite recent inflation challenges, authorities are optimistic about price stability as farmers prepare to harvest around five million metric tons of rice in the coming months, contributing to the country’s annual target.
U.S. Chamber group urges quick U.S., EU action to end tariffs, adopt privacy shield
The U.S. Chamber of Commerce on Wednesday urged the United States and European Union to quickly resolve their disputes over steel and aluminum tariffs and aircraft subsidies, and adopt a new privacy shield to better coordinate digital policy.
