MANILA, Philippines — The equations appear simple enough.
Equation No. 1: More imported pork equals lower prices.
Equation No. 2: Lower tariff means more imported pork.
Equation No. 3: Billions of pesos in revenue loss is worth it.
Equation No. 4: Lower tariff equals more import equals revenue loss equals consumer relief.
But a wayward equation is messing up with the picture.
Equation No. 5—Lower tariff plus more imports plus revenue loss equals high prices.
The impact of lower tariff and higher import volume of pork is being felt already, except where it’s supposed to h…
Keep on reading: P1B in tariff loss, but pork prices remain high