Page:United States Statutes at Large Volume 61 Part 5.djvu/25

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [61 STAT. a particular product. The term "countervailing duty" shall be understood to mean a special duty levied for the purpose of off- setting any bounty or subsidy bestowed, directly or indirectly, upon the manufacture, production or exportation of any merchandise. ['] 3. No product of the territory of any contracting party imported into the territory of any other contracting party shall be subject to anti-dumping or countervailing duty by reason of the exemption of such product from duties or taxes borne by the like product when destined for consumption in the country of origin or exportation, or by reason of the refund of such duties or taxes. 4. No product of the territory of any contracting party imported into the territory of any other contracting party shall be subject to both anti-dumping and countervailing duties to compensate for the same situation of dumping or erport subsidization. 5, No contracting party shall levy any anti-dumping or counter- vailing duty on the importation of any product of the territory of another contracting party unless it determines that the effect of the dumping or subsidization, as the case may be, is such as to cause or threaten material injury to an established domestic industry, or is such as to prevent or materially retard the establishment of a domestic industry. The CONTRACTING PARTIES may waive the requirements of this paragraph so as to permit a contracting party to levy an anti-dumping or countervailing duty on the importation of any product for the purpose of off- setting dumping or subsidization which causes or threatens material injury to an industry in the territory of another contracting party exporting the product concerned to the territory of the importing contraeting party. ' (Poet. p. A8*.) A24

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