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The Bell Trade Act of 1946, also known as the Philippine Trade Act, was an act passed by the United States Congress specifying policy governing trade between the Philippines and the United States following independence of the Philippines from the United States.
[12] Another joint resolution was passed by Congress for the establishment of free trade between the United States following the recommendations of the Bell Trade Mission, which President Osmeña himself supported and endorsed. This became the foundation of the controversial Bell Trade Act of 1946.
The Treaty of Manila of 1946, formally the Treaty of General Relations and Protocol, [1] is a treaty of general relations signed on July 4, 1946, in Manila, the capital of the Philippines. It relinquished U.S. sovereignty over the Philippines and recognized the independence of the Republic of the Philippines.
On the 4th of July, 1946, an independent Philippines was born. It became the successor to the U.S. under the treaties of 1930. On July 15, 1946, the United Kingdom annexed the State of North Borneo and, in the view of the United Kingdom, became the sovereign power with respect to what had been the State of North Borneo. [16]
Bell Trade Act [ edit ] On April 30, 1946, the United States Congress , at last, approved the Bell Act , which as early as January 20 had been reported to the Ways and Means Committee of the lower house, having been already passed by the Senate.
During his last term in the House, Primicias was one of nine Congressmen and three senators [4] who opposed the ratification of the United States' Bell Trade Act of 1946 (also called the Philippine Trade Act of 1946) mostly because it required amending the Philippine Constitution to give American citizens and corporations equal access with ...
The Commonwealth ended when the U.S. recognized Philippine independence on July 4, 1946, as scheduled. [39] [40] However, the economy remained dependent on the U.S. [41] This was due to the Bell Trade Act, otherwise known as the Philippine Trade Act, which was a precondition for receiving war rehabilitation grants from the United States. [42]
The Bell Trade Act, also known as the Philippine Trade Act, required that the rights to Philippine natural resources that Philippine citizens and corporations enjoyed be equally extended to citizens and corporations of the United States. The constitutional amendment, known as the Parity Amendment, was ratified in a plebiscite on May 11, 1947.