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and the Governor will consult and cooperate to d. Puerto Rico shall continue to enjoy the right to facilitate objectives of defense and national security. levy tariffs upon or otherwise to restrict the import of coffee from foreign countries or the United States; 8. Currency and in a manner consistent with the international obligations of the United States and after prior The currency of the United States shall be the consultation and coordination with the federal exclusive currency of Puerto Rico. The laws of the authorities concerned, Puerto Rico may levy, in- United States relative to currency, coinage, gold and crease, reduce or eliminate tariffs and quotas on silver shall apply to Puerto Rico, in accordance with articles imported directly from foreign countries or their terms. transshipped through the United States; provided, that mutually agreeable procedures shall be esta- 9. Common Market blished to: (1) assure comformity with international obligations; (2) assure that articles containing foreign a. Economic, trade and commercial relations components shipped or transshipped from Puerto between the United States and Puerto Rico shall be Rico to the rest of the U.S. customs territory or from conducted within the framework of the common there to Puerto Rico conform respectively to the market heretofore and hereafter established between laws; and (3) assure continuous communication and the United States and Puerto Rico. Puerto Rico shall coordination between the United States Executive not impose restrictions, tariffs, or taxes of any kind Branch and Puerto Rico on economic and trade on articles imported into Puerto Rico from the policy and implementation. United States, nor shall the United States impose e. Notwithstanding any other provision of law, restrictions, tariffs, or taxes of any kind on articles Puerto Rico may import materials and articles duty imported into the United States from Puerto Rico. free for subsequent shipment and sale to other parts b. Except as hereinafter provided, laws and tariff of the U.S. customs territory providing that the provisions of the United States on articles imported F.A.S. (free at side) shipping price contains at least from foreign countries shall be applicable in Puerto 35% value added in Puerto Rico. Rico. f. It shall be the purpose of the United States and c. The income from customs duties, licenses for Puerto Rico to pursue policies of foreign trade expan- imports, tariffs and taxes collected in Puerto Rico, as sion and liberalization in a manner compatible with well as internal revenue taxes which may be collected the continued expansion of trade and commerce on articles transported from Puerto Rico to the within their common market. In international trade United States, shall be paid into the Treasury of negotiations the United States will take into account Puerto Rico, after deducting the expenses of such the Free Associated State's stage of economic devel- collections. The terms "income" and "taxes" referred opment, and in agreement with the Free Associated to in the preceding sentence shall not be understood State, shall protect and promote its economic interest in any limited way and they extend to every kind of by seeking the most favorable conditions for Puerto revenue, direct or indirect, of any nature. Rico's exports abroad and sales to the U.S. market. 26 27

Document source description

This file contains materials relating to the Ad hoc Advisory Committee on Puerto Rico and the proposed compact of permanent union.

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Page context
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    "seq": 41,
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    "ocrText": "and the Governor will consult and cooperate to\nd. Puerto Rico shall continue to enjoy the right to\nfacilitate objectives of defense and national security.\nlevy tariffs upon or otherwise to restrict the import\nof coffee from foreign countries or the United States;\n8. Currency\nand in a manner consistent with the international\nobligations of the United States and after prior\nThe currency of the United States shall be the\nconsultation and coordination with the federal\nexclusive currency of Puerto Rico. The laws of the\nauthorities concerned, Puerto Rico may levy, in-\nUnited States relative to currency, coinage, gold and\ncrease, reduce or eliminate tariffs and quotas on\nsilver shall apply to Puerto Rico, in accordance with\narticles imported directly from foreign countries or\ntheir terms.\ntransshipped through the United States; provided,\nthat mutually agreeable procedures shall be esta-\n9. Common Market\nblished to: (1) assure comformity with international\nobligations; (2) assure that articles containing foreign\na. Economic, trade and commercial relations\ncomponents shipped or transshipped from Puerto\nbetween the United States and Puerto Rico shall be\nRico to the rest of the U.S. customs territory or from\nconducted within the framework of the common\nthere to Puerto Rico conform respectively to the\nmarket heretofore and hereafter established between\nlaws; and (3) assure continuous communication and\nthe United States and Puerto Rico. Puerto Rico shall\ncoordination between the United States Executive\nnot impose restrictions, tariffs, or taxes of any kind\nBranch and Puerto Rico on economic and trade\non articles imported into Puerto Rico from the\npolicy and implementation.\nUnited States, nor shall the United States impose\ne. Notwithstanding any other provision of law,\nrestrictions, tariffs, or taxes of any kind on articles\nPuerto Rico may import materials and articles duty\nimported into the United States from Puerto Rico.\nfree for subsequent shipment and sale to other parts\nb. Except as hereinafter provided, laws and tariff\nof the U.S. customs territory providing that the\nprovisions of the United States on articles imported\nF.A.S. (free at side) shipping price contains at least\nfrom foreign countries shall be applicable in Puerto\n35% value added in Puerto Rico.\nRico.\nf. It shall be the purpose of the United States and\nc. The income from customs duties, licenses for\nPuerto Rico to pursue policies of foreign trade expan-\nimports, tariffs and taxes collected in Puerto Rico, as\nsion and liberalization in a manner compatible with\nwell as internal revenue taxes which may be collected\nthe continued expansion of trade and commerce\non articles transported from Puerto Rico to the\nwithin their common market. In international trade\nUnited States, shall be paid into the Treasury of\nnegotiations the United States will take into account\nPuerto Rico, after deducting the expenses of such\nthe Free Associated State's stage of economic devel-\ncollections. The terms \"income\" and \"taxes\" referred\nopment, and in agreement with the Free Associated\nto in the preceding sentence shall not be understood\nState, shall protect and promote its economic interest\nin any limited way and they extend to every kind of\nby seeking the most favorable conditions for Puerto\nrevenue, direct or indirect, of any nature.\nRico's exports abroad and sales to the U.S. market.\n26\n27"
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