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US adopted friendlier policy towards Latin America
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Sixty six nations got together in an attempt to stabilize the value of the national currencies. The conference fell apart when the United States refused to attend.
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US officially recognized the sixteen-year Bolshevik regime in the Soviet Union
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This act provided for the independence of the Philippines after a twelve-year period of economic and political tutelage. Main reason for this act was that if the Philippines was attacked the US did not want to be held responsible.
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Roosevelt was now able to lower existing rates by as much as fifty percent provided that the other country involved was willing to respond with similar reductions. This was negotiated by Secretary of State Cordell Hull and it helped increase trade and allowed it to be more free.
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