JG Summit Olefins Corp. President Patrick Henry C. Go said that the recommendation of the Tariff Commission to not grant safeguard duties will be detrimental to the local petrochemicals industry.“The TC recommendation not to grant safeguard duties on imported LLDPE will be detrimental to the local petrochemical industry and will only benefit foreign resin manufacturers as they continue to increase the volume of their exports of resin products into the country,” Mr.
Further, Mr. Go said the local petrochemicals industry needs government support such as trade remedies to become competitive and attain long-term viability. In 2021, the Department of Trade and Industry asked the TC to conduct an investigation on the safeguard duties for LLDPE resins. This is after the DTI found out in its preliminary investigation that there was a “causal link” between the higher LLDPE imports and serious injury to the local industry.
“There was no increase in imports of LLDPE pellets and granules, both in absolute terms and relative to domestic production, during the period of investigation from 2015 to June 2021,” the TC report said.
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