Page:United States Statutes at Large Volume 62 Part 3.djvu/1064

 62 STAT.] MULTILATERAL-TARIFFS AND TRADE-SEPT. 14, 1948 pie with the proposed measure, assist in the negotiations. Upon substantial agreement being reached, the applicant contracting party may be released by the CONTRACTING PARTIES from the obligation referred to in this paragraph, subject to such limitations as may have been agreed upon in the negotiations between the contracting parties concerned. "4. (a) If as a result of action initiated under paragraph 3 there should be an increase in imports of any product concerned, including products which can be directly substituted there- for, which if continued would be so great as to jeopardize the establishment, development or reconstruction of the industry or branch of agriculture concerned, and if no preventive measures consistent with the provisions of this Agreement can be found which seem likely to prove effec- tive, the applicant contracting party may, after informing, and when practicable consulting with, the CONTRACTING PARTIES, adopt such other measures as the situation may require, provided that such measures do not restrict imports more than necessary to offset the increase in imports referred to in this sub-paragraph; except in unusual circumstances, such measures shall not reduce imports below the level obtaining in the most recent representative period preced- ing the date on which the contracting party initiated action under paragraph 3. "(b) The CONTRACTING PARTIES shall determine, as soon as prac- ticable, whether any such measure should be continued, discontinued or modified. It shall in any case be termi- nated as soon as the CONTRACTING PARTIES determine that the negotiations are completed or discontinued. " (c) It is recognized that the relationships between contracting parties under article II of this Agreement involve reciprocal advantages, and therefore any contracting party whose trade is materially affected by the action may suspend the application to the trade of the applicant contracting party of substantially equivalent obligations or concessions under this Agreement provided that the contracting party con- cerned has consulted the CONTRACTING PARTIES before tak- ing such action and the CONTRACTING PARTIES do not disapprove. "B "5. In the case of any non-discriminatory measure affecting imports which would apply to any product in respect of which the contracting party has assumed an obligation under article II of this Agreement and which would conflict with any other provision of this Agreement, the provisions of sub-paragraph (b) of paragraph 3 shall apply; provided that before granting a release the CONTRACTING PARTIES shall afford adequate opportunity for all contracting parties which they determine to be materially affected to express their views. The provisions of paragraph 4 shall also be applicable in this case. 3685 61 stat., Pt. 5, p. A4.

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