section 1 of Republic Act No. 1355 and section 201 of the Act of Congress of the United States of America, entitled “Philippine Trade Agreement Revision Act of 1955,” the President of the Philippines and the President of the United States of America, through their respective plenipotentiaries, signed an agreement at Washington on September 6, 1955, revising the Agreement concerning Trade and Related Matters entered into by the President of the Philippines and the President of the United States of America on July 4, 1946;
WHEREAS, on September 6, 1955, the two Governments exchanged notes clarifying certain provisions of the said Agreement between the Republic of the Philippines and the United States of America concerning Trade and Related Matters during a Transitional Period following the institution of Philippine Independence signed at Manila on July 4, 1946, as revised;
WHEREAS, section 3 of Republic Act No. 1355 provides that “If the revised agreement has been entered into prior to January 1, 1956, the President of the Philippines shall so proclaim, and such agreement shall be effective in, and binding on, the Philippines in accordance with the terms thereof”; and
WHEREAS, on October 26, 1955, the President of the United States of America proclaimed the aforesaid Revised Agreement, including a Protocol, Annexes, and related exchange of notes, in pursuance of