Page:United States Statutes at Large Volume 62 Part 3.djvu/334

 2942 61 Stat., Pts. and 6. FOREIGN OFFICE, S.W.1. 6th July, 1948. YOUR EXCELLENCY, I have the honour to refer to the conversations which have recently taken place between representatives of our two Governments relating to the territorial application of commercial arrangements between the United States of America and the United Kingdom and to confirm the understanding reached as a result of these conversations as follows: 1. For such time as either the Government of the United States of America or the Government of the United Kingdom of Great Britain and Northern Ireland participates in the occupation or con- trol of any areas in Western Germany or the Free Territory of Tri- este, the other Government will apply to the merchandise trade of such area the provisions of the General Agreement on Tariffs and Trade, dated the 30th October, 1947, as now or hereafter amended, relating to most-favoured-nation treatment. INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. 4. It is recognized that the absence of a uniform rate of exchange for the currency of the areas in Western Germany referred to in para- graph 1 above may have the effect of indirectly subsidizing the exports of such areas to an extent which it would be difficult to calculate ex- actly. So long as such a condition exists, and if consultation with the Government of the United States of America fails to reach an agreed solution to the problem, it is understood that it would not be inconsistent with the undertaking in paragraph 1 for the Government of the United Kingdom to levy a countervailing duty on imports of such goods equivalent to the estimated amount of such subsidization, where the Government of the United Kingdom determines that the subsidization is such as to cause or threaten material injury to an es- tablished domestic industry or is such as to prevent or materially re- tard the establishment of a domestic industry. 5. The undertakings in this note shall remain in force until Janu- ary 1, 1951, and unless at least six months before January 1, 1951, either Government shall have given notice in writing to the other of intention to terminate these undertakings on that date, they shall re- main in force thereafter until the expiration of six months from the date on which such notice shall have been given. Accept, Sir, the renewed assurances of my highest consideration. LEWIS W. DOUGLAS The Right Honorable ERNEST BEVIN, M. P., Secretary of State for ForeignAffairs, The ForeignOffice, Whitehall,S.W .1. The British Secretary of State for Foreign Affairs to the American Ambassador Duration. U

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