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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. The United States Congress offered $800 million for post World War II rebuilding funds if the Bell Trade Act was ratified by the Philippine Congress. The specifics of the act required the 1935 Constitution of the Philippines be amended. The Philippine Congress approved the measure on July 2, two days before independence from the United States of America, and on September 18, 1946 approved a plebiscite to amend the Constitution of the Philippines.
      Authored by Missouri Congressman C. Jasper Bell, the Bell Trade Act required:

      Preferential tariffs on US products imported into the Philippines;
      A 2:1 fixed exchange rate between the Philippine peso and the United States dollar;
      No restrictions on currency transfers from the Philippines to the United States;
      "Parity rights" granting U.S. citizens and corporations rights to Philippine natural resources equal to (in parity with) those of Philippine citizens, contrary to Article XIII in the 1935 Philippine Constitution, necessitating a constitutional amendment.
      The Bell Act, particularly the parity clause, was seen by critics as an inexcusable surrender of national sovereignty. The pressure of the sugar barons, particularly those of President Roxas's home region of Western Visayas, and other landowner interests, however, was irresistible.
      In 1955, the Laurel–Langley Agreement revised the Bell Trade Act. This treaty abolished the United States authority to control the exchange rate of the peso, made parity privileges reciprocal, extended the sugar quota, and extended the time period for the reduction of other quotas and for the progressive application of tariffs on Philippine goods exported to the United States.


      1947 Philippine Parity Rights plebiscite


      As required by the Bell Trade Act, a plebiscite was held in the Philippines to amend the Philippine Constitution to provide for "parity rights" between American and Philippine citizens.
      Prior to the plebiscite, the Constitutional amendment had to be approved by the Philippine Congress, which required a 3/4 vote by the Philippine House and Philippine Senate. The 3/4 vote was obtained only by the denial of seats in the House to six members of the leftist Democratic Alliance and three from the Nacionalista Party on grounds of fraud and violent campaign tactics during the April 1946 election. The administration view that the amendment had passed was challenged before the Philippine Supreme Court on the grounds that approval by 3/4 of the full membership was required, not 3/4 of the sitting members, and was decided in favor of the administration position.
      The plebiscite was held on March 11, 1947 and voters approved the amendment 79 to 21%. Forty percent of voters participated in the plebiscite.


      See also


      Politics of the Philippines
      Philippine elections


      References




      Further reading




      External links


      "Commonwealth Act No. 733". Chan Robles Law Library. April 30, 1946. The act by the Philippine Congress acceding to the provisions of the Bell Trade Act.

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    Bell Trade Act | Labor Relations, Tariffs & Trade | Britannica

    The Bell Act set quotas on Philippine exports to the U.S., pegged the Philippine peso to the U.S. dollar at a rate of 2:1, and provided for free trade between the two countries for 8 years, to be followed by gradual application of tariffs for the next 20 years.

    The Bell Trade Act and the Parity Amendment

    21 Jan 2024 · The Bell Trade Act allowed for free trade between the Philippines and the US for a period of eight years. During this time, there were no tariffs or other barriers to trade, fostering economic cooperation and growth.

    Historical Documents - Office of the Historian

    The Philippine Trade Act of 1946, which lays down in great detail the provisions that shall be included in the agreement which the President is authorized to conclude thereunder, provides for eight years of free trade followed by twenty years of declining preferences, as well as for quotas on imports of certain Philippine articles and for ...

    Bell Trade Act - Wikiwand

    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.

    About: Bell Trade Act - DBpedia Association

    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.

    The Philippine Trade Act In The Light Of History

    19 Agu 2021 · This work, which was written as a justification of Parity Rights in the Philippines, is set upon the backdrop of the destruction of massive swathes of Philippine urban geography, culture, and economy.

    Ensuring American control over the Philippine economy …

    Jasper Bell, the Bell Trade Relations Act, also known as the Philippine Trade Act of 1946, was enacted by the U.S. Congress on April 18, 1946. On July 4, 1946, an executive agreement called the U.S.-Philippine Trade Agreement, which contained the stipulations of the trade act, was signed. (Shalom, 1980). Under Article VII of the Bell Trade Act, the

    The Bell Trade Act and the Philippine Economy - JSTOR

    The Bell Mission Report should not be confused with the Bell Act (Philippine Trade Act of I946), passed by the United States Congress, some of whose principal economic provisions are summarized in footnote io, below.

    CONTENTdm - digitalcollections.lib.washington.edu

    The Bell Trade Act ( Bernabe Act) of 1946, also known as the Philippine Trade Act was an act passed by the United States Congress specifying the economic conditions governing the independence of the Philippines from the United States.

    Philippine Acceptance of the - JSTOR

    Philippine Acceptance of Bell Trade Act 503 The Philippine Trade Act of 1946-known as the Bell Trade Act after its sponsor, Representative Jasper Bell-was approved by the U.S. Congress on April 18, 1946. On April 30, 1946, President Harry S. Truman signed the act and a companion piece of legislation, the Philippine Rehabilitation Act." The