Page:United States Statutes at Large Volume 55 Part 2.djvu/521

 55 STATr.] VENEZUELA-RECIPROCAL TRADE-DEC. 26, 1941 WHEREAS, Schedule II annexed to the said definitive agreement 54Stat.2387. provides in part as follows: Internal Revenue Code Rate of Im- Section Description of Article port Tax 3422 Crude petroleum, topped crude petroleum, and fuel oil de- rived from petroleum including fuel oil known as gas oil Y' per gal. Provided, That such petroleum and fuel oil entered, or with- drawn from warehouse, for consumption in any calendar year in excess of 5 per centum of the total quantity of crude petroleum processed in refineries in continental United States during the preceding calendar year, as as- certained by the Secretary of the Interior of the United States, shall not be entitled to a reduction in tax by virtue of this item, but the rate of import tax thereon shall not exceed At per gal. WHEREAS, Article VII of the said definitive agreement reads as 54Stat. 2378. follows: "In the event the Government of the United States of America or the Government of the United States of Venezuela regulates imports of any article in which the other country has an interest either as regards the total amount permitted to be imported or as regards the amount permitted to be imported at a specified rate of duty, the Government taking such action shall establish in advance, and give public notice of, the total amount permitted to be imported from all countries during any specified period, which shall not be shorter than three months, and of any increase or decrease in such amount during the period, and if shares are allocated to countries of export, the share allocated to the other country shall be based upon the proportion of the total imports of such article from all foreign countries supplied by the other country in a previous representative period, account being taken in so far as practicable in appropriate cases of any special factors which may have affected or may be affecting the trade in that article." WHEREAS, Article VI of the Trade Agreement between the United States of America and the Kingdom of the Netherlands, entered into on December 20, 1935, ['] pursuant to the said Tariff Act of 1930, as amended, and now in force between the two countries, provides in part as follows: "7. If the Government of the United States of America establishes or maintains any form of quantitative restriction or control of the importation or sale of any article in which the Kingdom of the Netherlands has an interest, or imposes a lower duty or charge on the importation or sale of a specified quantity of any such article than the duty or charge imposed on importa- 1 [Executive Agreement Series 100; 50 Stat. 1504.] 1395

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