High Rice Tariff: A Burden?

I recently read from Yehey! that a kilo of rice might be sold for Php50 for the days to come. It was said that the 50% tariff rate on rice would be the cause.

Do you know why there are tariffs on imported goods? Tariffs are used to protect the local industries. These are barriers that regulate the entry of imported goods. This is also done to make the locally produced goods competitive. However, sometimes these tariffs become a burden especially if the high tariffs are posted on commodities like rice. When commodities like rice have high tariffs this means that they would be sold at a higher price. This makes it harder for most Filipinos to purchase these goods. With the current rice crisis in the country, government is able to help the local traders. However, this seems to be at the expense of the consumers.

Note: I’m not really an expert in economics, hehehe I’m a management student so please bear with me. I just wrote what I know and feel. Thanks(^_^)

To read more about the article I read go to http://www.yehey.com/news/Article.aspx?id=209160