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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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"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"
}