Page:United States Statutes at Large Volume 55 Part 2.djvu/519

 5.5 STA.r .] VENEZUELA--RECIPROCAL TRADE--DEC. 26, 1941 1393 Proclamation by the President of the United States of America issued December 26, 1941, pursuant to article VII of the reciprocal trade agreement between the United States of America and Venezuela signed November 6, 1939, respecting allocation of tariff quota on crude petroleum and fuel oil. December 26, 1941 [E. A. S. 2261 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), which amending Act was extended by Joint Resolutions of Congress, approved March 1, 1937 (50 Stat. 24) and April 12, 1940 (54 Stat. 107), 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 depression, 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 pro- duction so that foreign markets will be made available 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 govern- ments 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 agree- ments, as are required or appropriate to carry out any foreign 19 U. . C. §§1351- 1354.

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