Philippines slaps protective duties vs. car imports

MANILA, Philippines — The Philippines is slapping safeguard duties on imported vehicles starting this month in a move said meant to protect local assemblers.

In a statement on Monday, the trade department said importers will be required to cough up cash bonds up to P70,000 for passenger cars and P110,000 for light commercial vehicles once tariffs, to be laid out in an order on Tuesday, take effect 15 days after.

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