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 ICELAND-TRAI)E-JULY 3, 1948 of America, it is understood that it would not be inconsistent with the undertakings in point 1 for the Government of Iceland to levy a duty on the importation of such goods, equivalent to the estimated amount of such subsidization, where the Government of Iceland determines that the subsidization is such that it may cause or there is danger that it may do material injury in and of itself to established domestic industries, or can prevent or materially retard the establishment of domestic industries. 5. The undertakings in this note shall remain in force until January 1, 1951, and unless six months before that date either Government has announced in writing that it desires that they shall cease to be in effect, they shall remain in force thereafter until the expiration of six months from the date on which notification has been given. I take the liberty, Mr. Minister, of expressing to you my special consideration. BJARNI BENEDIKTSSON Minister RICHARD P. BUTRICK, American Legation, Reykjavik. 62 STAT. ] 2909

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