WHEREAS, Executive Order No. 375, issued on 22 October 2004, provides for the increase in the rates of duty on certain iron and steel products to set up an enabling environment for the local iron and steel industry to attain international competitiveness;

WHEREAS, the domestic production of hot-rolled coils (HRC) and cold-rolled coils (CRC) has not been sustained as required under EO 375;

WHEREAS, the elimination of the rates of duty will ensure adequate supply of quality and competitively-priced HRC and CRC needed in the production of roofing materials and other construction products to support the housing industry, which is identified as one of the main drivers of the Philippine economy;

WHEREAS, the NEDA Board during its meeting on 25 May 2010 approved the reduction in duty of HRC and CRC products;

WHEREAS, Section 401 of the Tariff and Customs Code of 1978 (Presidential Decree No. 1464), as amended, empowers the President of the Republic of the Philippines to increase, reduce, or remove existing rates of import duty, as well as to modify the form of duty and the tariff nomenclature, under Section 104 of the Code;

NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:

Section 1. The articles specifically listed in Annex hereof, as classified under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be subject to the Most-Favoured-Nation (MFN) rate of import duty in accordance with the schedule indicated opposite each article.

Section 2. The rates of import duty on tariff headings and subheadings not enumerated and those listed but represented by the symbol œx x x  shall remain in force and effect.

Section 3. Upon the effectivity of this Executive Order, all articles specifically listed in the aforesaid œAnnex  which are entered and withdrawn from warehouses in the Philippines for consumption shall be levied the MFN rates of duty as indicated therein.

Section 4. The rates of duty on articles listed in the Annex shall be reverted to 7% MFN tariff rate once the domestic production of HRC and CRC has been sustained as determined by the Board of Investments and approved by the Committee on Tariff and Related Matters.

Section 5. All other Presidential issuances, administrative rules and regulations, or parts thereof, which are inconsistent or contrary with this Executive Order are hereby revoked or modified accordingly.

Section 6. This Executive Order shall take effect fifteen (15) days following its complete publication in the Official Gazette or in a newspaper of general circulation in the Philippines.

Done in the City of Manila, this 22nd day of June in the year of Our Lord, Two Thousand and Ten.

 

	(SGD.)GLORIA MACAPAGAL-ARROYO
	President of the Philippines
By the President:
(SGD.) LEANDRO R. MENDOZA
Executive Secretary