QuestionsQuestions (Republic Act No. 1137)
Republic Act No. 1137 is an act to amend Commonwealth Act No. 733 regarding the acceptance and execution of the Executive Agreement between the Philippines and the United States concerning trade relations.
The President of the Philippines is authorized to formally execute the Executive Agreement on or after July 4, 1946.
The Executive Agreement is pursuant to Title IV of Public Law 371, Seventy-ninth Congress, approved April 30, 1946, known as the Philippine Trade Act of 1946.
Section 1 amends Section 1 of Commonwealth Act No. 733 to approve the Executive Agreement and authorize the President to execute it, including provisions on duty-free treatment and trade relations with the United States.
The duty-free treatment may be applied during such period after July 3, 1954, but not after December 31, 1955, as the President may declare by proclamation.
The duty-free treatment under Article I, Paragraph 1 of the Agreement applies to United States articles entered or withdrawn from warehouses in the Philippines for consumption, replacing treatment under other provisions and impacting trade benefits.
The proclamation is without prejudice to subparagraphs (a) and (b) of Paragraph 2, Article I being considered in effect for applying other provisions of the Agreement and should not substantially impair the national economy.
Sections 311 and 312 of the Philippine Trade Act of 1946 remain in effect notwithstanding the Agreement and its amendments.
Philippine articles are defined in subparagraph (f) of Paragraph 1 of the Protocol of the Agreement, except those specified in items D to G of the schedule to Article II.
Republic Act No. 1137 took effect upon its approval on June 16, 1954.