This Thursday, representatives of the Economy Commission agreed approve the amendment to the Special Transitory Law to Combat Inflation in Commodity Prices, with the main objective of adding beef and all its derivatives to the list of products that are imported duty-free
The deputy director of Administration of Commercial Treaties of the Ministry of Economy, Gloria Portillo explained that the reform will include meats in the list of products free of tariffs due to an increase in prices, “In price monitoring, an increase in meat prices has been observed as of December 2020, by 11.9%”, emphasized.
In addition, it seeks to add to article 2, in the table of products, different types of beef, passing this to have a 0% tariff, allowing import from countries such as Colombia, Mexico, Chile, Guatemala, Costa Rica.
If it materializes like this, the reform will temporarily suspend tariffs on beef, as part of another measure to alleviate the impact of inflation on the pockets of Salvadoran families, since it has experienced a price increase of 11% and therefore it is necessary to reduce its cost.
The representatives of the work table pointed out that freeing these inputs from tariffs will not mean that their quality is inferior. The opinion is expected to be known by the full legislature during the next plenary session.
The proposal to reform the Temporary Law to Combat Inflation in Commodity Prices was presented last Tuesday by the Ministers of Economy, Finance and Livestock and Agriculture.