Page:United States Statutes at Large Volume 66.djvu/1193

 66 STAT.]

PROCLAMATIONS—NOV. 26, 1951

10. WHEREAS the said General Agreement specified in the first recital of this proclamation and the said Annecy Protocol specified in the ninth recital of this proclamation are to be supplemented by the Fifth Protocol of Rectifications to the General Agreement on Tariffs and Trade, dated December 16, 1950, paragraph 3 of which Protocol of Rectifications provides that the rectifications contained therein shall become an integral part of the said General Agreement on the day on which the said Protocol of Rectifications has been signed by all the governments which are at that time contracting parties to the said General Agreement, which Protocol of Rectifications is authentic in the English and French languages as indicated therein, and a copy of which is annexed to this proclamation; 11. WHEREAS (pursuant to the authority vested in the President by the Constitution and the statutes, including the said section 350 of the Tariff Act of 1930, as amended by section 1 of the act of June 12, 1934, specified in the first recital of this proclamation, the period for the exercise of the said authority having been specified in section 2(c) of the said act of June 12, 1934, as three years from June 12, 1934) on January 9, 1936, the President entered into a trade agreement with the Swiss Federal Council, including two Schedules and a declaration annexed thereto (49 Stat. (pt. 2) 3918); 12. WHEREAS, by Proclamation of January 9, 1936 (49 Stat, (pt. 2) 3917), the President proclaimed the said trade agreement specified in the eleventh recital of this proclamation, which proclamation has been supplemented by Proclamation of May 7, 1936 (49 Stat, (pt. 2) 3959), and Proclamation of Noveiiiber 28, 1940 (54 Stat. (pt. 2) 2461); 13. WHEREAS on October 13, 1950, the said trade agreement specified in the eleventh recital of this proclamation was supplemented by the following provisions: " I. If, as a result of unforeseen developments and of the effect of the obligations incurred by the Government of the United States of America or of Switzerland under the Trade Agreement signed in Washington January 9, 1936, including tariff concessions, any product is being imported into the territory of either country in such relatively increased quantities and under such conditions as to cause or threaten serious injury to the domestic industry in that territory producing like or directly competitive products, the Government of the United States of America or of Switzerland shall be free, in respect of such product, and to the extent and for such time as may be necessary to prevent or remedy such injury, to suspend the obligation in whole or in part or to withdraw or modify the concession. "2. Before the Government of the United States or of Switzerland shall take action pursuant to the provisions of Paragraph one above, it shall give notice in writing to the other Government as far in advance as may be practicable and shall afford such other Government an opportunity to consult with it in respect of the proposed action and with respect to such compensatory modifications of the Trade Agreement as may be deemed appropriate, to the extent practicable maintaining the general level of reciprocal and mutually advantageous concessions in the Agreement. If agreement between the two Governments is not reached as a result of such consultation, the Government which proposes to take the action under Paragraph one shall, nevertheless, be free to do so and, if such action is taken, the other Government shall be free, not later than ninety days after the action has been taken and on thirty days' written notice, to suspend the application to the trade of the Government taking action under Paragraph one of substantially equivalent obligations or concessions under said Trade Agreement. The Government taking action under Paragraph one shall then be free, within thirty days after such suspension takes effect, to terminate said Trade Agreement on thirty days' written notice. In critical circumstances, where delay would cause damage which it would be difficult to repair, action under Paragraph one may be taken provisionally without prior consultation, under the condition that consultation shall be effected immediately after taking such action. Where an action taken without prior consultation causes or threatens to cause serious injury in the territory of the other Government to the domestic producers of products affected by the action, that Government shall, where delay would cause damage difficult to repair, be free to

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