[1] „President Roxas on First State of the Nation Address, June 3, 1946,“ Official Gazette, June 3, 1946, called July 2, 2015, Link A strong incentive for Philippine tolerance was the fact that the U.S. payment of $800,000,000 in war claims was contingent on Philippine ratification of the Bell Act. The law remained extremely unpopular in the Philippines. It was later replaced by a more pro-Philippine agreement, the Laurel Langley Agreement, which came into force in 1956. „A U.S. Law on the Partial Suspension of the Processing Tax on Coconut Oil, as Amended on May 1, 1946.“ Section 2. This Act shall enter into force on the day following its promulgation and shall expire on 30 May 1946. (56 Statistics) Pt. (752 and 753, chap. 560); (58 Statistics) Pt. 1 (647, chap. 332). Chanroble Virtual Legal Library La Roxas Administration (May 28, 1946 – 15.

April 1948) „(b) A reduction in the normal customs duties granted to a country by law, treaty, trade agreement or any other article shall be converted into corresponding reductions in the normal duty, which otherwise applies to that article. Bell Trade Act, officially the Philippine Trade Act of 1946, a law passed by the U.S. Congress that set the economic conditions for the birth of the Republic of the Philippines from American domination; The law contained controversial provisions that bind the Philippine economy to that of the United States. The Third Republic of the Philippines was inaugurated on July 4, 1946. It marked the culmination of the peaceful campaign for Philippine independence – these two milestones were the passage of the Jones Act in 1916 (in which the United States promised Philippine independence once Filipinos proved their ability to self-manage) and the Philippine Independence Act of 1934 (commonly known as Tydings McDuffie), which introduced a transitional period of ten years, where the Philippines had Commonwealth status. The Third Republic also marked the recognition of the nationality of the Philippines by the world community of the United Nations, a process that began when the Commonwealth of the Philippines joined the United Nations Alliance Against the Axes on June 14, 1942 and was recognized as an allied nation even before independence. When the Philippines became independent on July 4, 1946, its economy had been deeply devastated by World War II. The payment of war debts by the U.S. government and the influx of capital were both urgent. The Bell Act set quotas for Philippine exports to the United States and bequeathed the Philippine peso to the United States. Dollar at a rate of 2:1 and provided for 8 years free trade between the two countries, followed by the gradual application of tariffs for the next 20 years.

Many Filipinos opposed the so-called parity amendment, which required an amendment to the Philippine constitution, which gave American citizens equal rights with Filipinos to exploit natural resources and public services; Nevertheless, some powerful Filipinos involved in these negotiations have benefited from the agreement. The Act also provides that the Philippines undertakes, in the approved agreement, to immediately amend its constitution to allow U.S. citizens and businesses to participate in certain activities, such as mining and utilities reserved for Filipino citizens, and that the agreement is suspended or denounced when the President of the United States finds: that such changes were not made within a reasonable period of time or that the Philippines discriminates against U.S. citizens or businesses. These provisions have been included in the agreement. At the end of the agreement, most of the provisions of our law, which prohibited trade preferences in the Philippines, end in accordance with the law.