War Scars

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The great uncertainty lay in the political future. If Philippine independence becomes a fact in 1946, it will be a hollow gain unless the U.S. grants a preferential tariff on Philippine products. In prewar years the U.S. bought 82% of the Philippine exports, worth $256,000,000 a year. But a high tariff would cut this to a trickle, leave the Philippines to begin a search for new markets.

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