Measures to help local vehicle assemblers eyed

MANILA -- Introducing other measures to support local vehicle manufacturers is being eyed after Honda Cars Philippines, Inc. (HCPI) announced to close its operation in the Philippines next month.

“We really have to study the need to impose safeguard duty and other measures to provide at least a level of support to the loBONGABON, cal assemblers,” Department of Trade and Industry (DTI) Secretary Ramon Lopez said in a text message Sunday.

Lopez admitted that since there is no tariff protection on imported vehicles, it becomes a cheaper alternative for car companies that find it challenging to keep up