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(Daily News)
May 05, 2014

The U.S. and the Philippines have agreed that the U.S. will back the country’s push for a waiver from the World Trade Organization that will allow it to keep in place its rice quotas through 2017 instead of converting them to tariff-rate quotas (TRQs), and that the U.S. will get reduced applied tariffs on a range of agriculture products as compensation for this special treatment.