Panama tariff policy spices up debate on inflation
Panama has abolished import tariffs on tea, garlic, mustard, spices and seasonings while they remain in force for rice, corn, dairy products and chicken.
Tuesday, May 27, 2008
Consumer associations complain that the policy will do nothing to curb inflation in prices of basic food staples. But that is not the aim, said former economy minister Frank De Lima. The government wants to protect producers, not consumers, De Lima added.
Nicaragua's government reduced or abolished tariffs on imports of several basic consumer products in an effort to keep prices under control.
After the withdrawal of the reservation lodged by El Salvador against China with the World Trade Organization, China has lowered tariffs and opened an import quota for sugar from the Central American country.
As of June 22, 2009, 93% of bilateral trade will be tariff-free.
The EU lowered the banana tariff from 250 to 176 Euros per metric ton in 2005, which is still considered discriminatory.
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