Is Rice Tariffication Law a Good Solution to the Philippines? Essay

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The rice tariffication law, or RTL, is a law that was signed by Philippine President Rodrigo Roa Duterte in February 2019. It is said that the law would lower the tariff of the imported goods produced by foreign investors so that they would be able to import their goods at a lower price which would result to a lower marketing price. This law is made to help with regards to the shortage of rice which is why the tariff is lower in order for the imported goods to be much cheaper in the market so that even the poor people would be able to buy rice that has good quality since it is coming from other countries. Now, in regards to this law, is it really a good solution for the country since the price would be cheaper or would it have a bad effect to our own economy?

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Due to the fact that the RTL lowers the tax of the imported rice, it would be cheaper than the local rice that is being planted by our farmers here in our country. The consumers would much more prefer to buy the imported rice since it would be cheaper and would have a high-quality grade due to the milling machines being much better than those that are being used here in our country. As a result of the consumers buying the imported goods, the local goods would be low in demand resulting to a much higher price and lower quality. This is also the reason why many of our farmers are having troubles due to the demand being low which results to less income. This is the reason why I disagree that the rice tariffication law would be the solution that would help our country. Why is that so? Well, since we would be supporting mostly the goods that are being imported to our country, the farmers will become poor and in the worst-case scenario, they wouldn't have a job resulting to the down fall of our economy. Now, let's think of what may happen in the future. Let's say that the country that is importing goods to our country were to have a higher population due to the increase of birth rate, those countries would stop importing those goods since they would be having a shortage due to rise of their population. If that would be the case, what do you think would happen to our country? Our country would experience great famine since we would have a shortage of supplies due to the lessening of imported goods.

Therefore, I strongly disagree that the rice tariffication law is a good solution that would help our country because our own farmers are having a crisis due to less income because the consumers would prefer to buy the imported goods because not only would they be having a much higher quality, it is also cheaper than our local goods.

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Is Rice Tariffication Law a Good Solution to the Philippines? Essay. (2022, December 15). Edubirdie. Retrieved May 24, 2024, from https://edubirdie.com/examples/is-rice-tariffication-law-a-good-solution-to-the-philippines-essay/
“Is Rice Tariffication Law a Good Solution to the Philippines? Essay.” Edubirdie, 15 Dec. 2022, edubirdie.com/examples/is-rice-tariffication-law-a-good-solution-to-the-philippines-essay/
Is Rice Tariffication Law a Good Solution to the Philippines? Essay. [online]. Available at: <https://edubirdie.com/examples/is-rice-tariffication-law-a-good-solution-to-the-philippines-essay/> [Accessed 24 May 2024].
Is Rice Tariffication Law a Good Solution to the Philippines? Essay [Internet]. Edubirdie. 2022 Dec 15 [cited 2024 May 24]. Available from: https://edubirdie.com/examples/is-rice-tariffication-law-a-good-solution-to-the-philippines-essay/
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