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 NICARAGUA-RECIPROCAL TRADE-MARCH 11, 1936 Agreement between the United States of America and Nicaraguarespecting reciprocal trade. Signed at Managua,March 11, 1936; proclaimed by the President of Nicaragua, August 31, 1936; proclaimed by the President of the United States, September 1, 1936; effective, October 1, 1936. BY THE PRESIDENT OF THE UNITED STATES OF AMERICA A PROCLAMATION WHEREAS it is provided in the Tariff Act of 1930 of the Congress of the United States of America, as amended by the Act of June 12, 1934, entitled "AN ACT To Amend the Tariff Act of 1930" (48 Stat. 943), as follows: "Sec. 350. (a) For the purpose of expanding foreign markets for the products of the United States (as a means of assisting in the present emergency in restoring the American standard of living, in overcoming domestic unemployment and the present economic depres- sion, in increasing the purchasing power of the American public, and in establishing and maintaining a better relationship among various branches of American agriculture, industry, mining, and commerce) by regulating the admission of foreign goods into the United States in accordance with the characteristics and needs of various branches of American production so that foreign markets will be made avail- able to those branches of American production which require and are capable of developing such outlets by affording corresponding market opportunities for foreign products in the United States, the President, whenever he finds as a fact that any existing duties or other import restrictions of the United States or any foreign country are unduly burdening and restricting the foreign trade of the United States and that the purpose above declared will be promoted by the means hereinafter specified, is authorized from time to time- "(1) To enter into foreign trade agreements with foreign gov- ernments or instrumentalities thereof; and "(2) To proclaim such modifications of existing duties and other import restrictions, or such additional import restrictions, or such continuance, and for such minimum periods, of existing customs or excise treatment of any article covered by foreign trade agreements, as are required or appropriate to carry out any foreign trade agree- ment that the President has entered into hereunder. No proclama- tion shall be made increasing or decreasing by more than 50 per centum any existing rate of duty or transferring any article between the dutiable and free lists. The proclaimed duties and other im- port restrictions shall apply to articles the growth, produce, or manufacture of all foreign countries, whether imported directly, or indirectly: Provided, That the President may suspend the applica- tion to articles the growth, produce, or manufacture of any country because of its discriminatory treatment of American commerce or because of other acts or policies which in his opinion tend to defeat the purposes set forth in this section; and the proclaimed duties and other import restrictions shall be in effect from and after such time as is specified in the proclamation. The President may at any time terminate any such proclamation in whole or in part." March 11, 1936 [E.A. 8. No. 95] Reciprocal trade agreement with Nica- ragua. 48 Stat. 943. 19U. .C.§1351. Statutory provi- sions. 1413

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