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<img src="https://cdn.kahimyang.com/resources-11/treaty-signing-sm.webp" loading="lazy" alt="Signing of the treaty of Paris in 1898" />
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(An artist depiction of the signing of the Treaty of Paris in 1898)
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Spanish ships and merchandise would be allowed into the ports of the islands for a stated period.  
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One week later the Spanish Commission accepted the terms offered and made the following statement:
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"The Government of Her Majesty, moved by lofty reasons of patriotism and humanity, will not assume the responsibility of again bringing upon Spain all the horrors of war. In order to avoid them, it resigns itself to the painful strait of submitting to the law of the victor, however harsh it may be, and as Spain lacks material means to defend the rights she believes are hers, having recorded them, she accepts the only terms the United States offers her for the concluding of the treaty of peace".
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After five more sessions devoted to perfecting the details of the treaty,  it was finally signed by the plenipotentiaries on December 10, 1898. 
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<b>Source:</b><br/>
The government of the Philippine Islands; its development and fundamentals,  George Arthur Malcolm, Page 176, 1916.
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November 21, 1898: the Americans presented an ultimatum for the cession Philippines