Manuel Roxas was the first president of the independent Third Philippine Republic after the country gained independence from the US in 1946. He faced many challenges as the country recovered from the devastation of WWII, including ruined farms and factories, bombed infrastructure, high unemployment, and a weakened education system. His policies focused on reviving the economy through increased production and employment, with assistance from US financial organizations. However, some of the agreements he signed, such as the Bell Trade Act and Parity Amendment, curtailed Philippine sovereignty by granting Americans equal rights to exploit the country's resources.