Which decree marked changes to the Tariff Law in 1972?

Which decree marked changes to the Tariff Law in 1972?

• A. Presidential Decree No. 1
• B. Presidential Decree No. 34, s. 1972
• C. Republic Act No. 1937
• D. Tariff Act of 1909

Answer: (B)

Changes to tariff policy in 1972 were carried out through a Presidential Decree, reflecting the period’s approach of using decrees to shape economic rules. The decree that marks those changes to the Tariff Law is Presidential Decree No. 34, series of 1972. It specifically amended the tariff structure and duties to align with the government’s reforms at that time. The Tariff Act of 1909 represents the older framework, not the 1972 changes; Republic Act No. 1937 and Presidential Decree No. 1 pertain to different laws or earlier steps and do not implement the 1972 tariff changes.

Changes to tariff policy in 1972 were carried out through a Presidential Decree, reflecting the period’s approach of using decrees to shape economic rules. The decree that marks those changes to the Tariff Law is Presidential Decree No. 34, series of 1972. It specifically amended the tariff structure and duties to align with the government’s reforms at that time. The Tariff Act of 1909 represents the older framework, not the 1972 changes; Republic Act No. 1937 and Presidential Decree No. 1 pertain to different laws or earlier steps and do not implement the 1972 tariff changes.