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Treaty of Paris Cuba became independent; US agreed to pay Spain $20 million for the Philippines; US acquired Puerto Rico and Guam Platt Amendment Ensured that Cuba would remain tied to the US Roosevelt Corollary The US would intervene in Latin American affairs when necessary; extension of the Monroe Doctrine Foraker Act Made Puerto Rico and "unincorporated territory" Hay-Pauncefote Treaty Gave the U.S. the right to build and control a canal through Central America Platt Amendment Ensured that Cuba would remain tied to the U.S. Dollar Diplomacy If American Business leaders supported Latin American and Asian development, everyone would benefit Open Door Policy Kept Chinese ports open to vessels of all nations.