July 4, 1946: the day the United States made the Philippines its NEO-colony, continuing to control the nation’s economy & leadership, instead of its FORMAL U.S. colony.

July 4 also known as: Araw ng Republikang Pilipino and Philippine–American Friendship Day
Bell Trade Act of 1946:
- Preferential tariffs on US products imported into the Philippines
- "Parity rights" granting U.S. citizens & corporations rights to Philippine natural resources (!!!)
- Fixed exchange rate between the peso & dollar
- No restrictions on currency transfers
The Tydings–McDuffie Act
- Created mandatory US framework for Philippine Constitution
- Required approval by the US President + Filipinos
- Pre-independence, allowed US to maintain military forces & draft Filipinos
- US could negotiate its military presence after independence
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