Preference & Postponement
Current state of the Philippines, as defined in the 1934 McDuffie-Tydings Act, calls for complete independence on July 4, 1946. Preceding independence, Philippine trade preferences with the U. S.— whereby sub-quota exports of major Philippine products are 100% tariff-exempt— would be reduced by annual steps, so that by 1946 Philippine products would pay the same tariffs as any other foreign nation.
Almost as soon as the McDuffie-Tydings Bill was passed it began to be reconsidered. Last year a joint committee of U. S. and Philippine experts examined the...
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