Page:United States Statutes at Large Volume 76.djvu/928

 880

PUBLIC LAW 87-794-OCT. 11, 1962

[76 STAT.

(2) refrain from proclaiming benefits of trade agreement concessions to carry out a trade agreement with such country or instrumentality, (d) The President shall provide an opportunity for the presentation of views concerning foreign import restrictions which are referred to in subsections (a), (b), and (c) and are maintained against United States commerce. Upon request by any interested person, the President shall, through the organization established pursuant to section 242(a), provide for appropriate public hearings with respect to such restrictions after reasonable notice and provide for the issuance of regulations concerning the conduct of such hearings. SEC. 253. STAGING REQUIREMENTS. (a) Except as otherwise provided in this section and in section 254, the aggregate reduction in the rate of duty on any article which is in effect on any day pursuant to a trade agreement under this title shall not exceed the aggregate reduction which would have been in effect on such day if— (1) one-fifth of the total reduction under such agreement for such article had taken effect on the date of the first proclamation pursuant to section 201(a) to carry out such trade agreement, and (2) the remaining four-fifths of such total reduction had taken effect in four equal installments at 1-year intervals after the date referred to in paragraph (1). (b) Subsection (a) shall not apply to any article with respect to which the President has made a determination under section 213(a). (c) I n the case of an article the rate of duty on which has been or is to be reduced pursuant to a prior trade agreement, no reduction shall take effect pursuant to a trade agreement entered into under section 201(a) before the expiration of 1 year after the taking effect of the final reduction pursuant to such prior agreement. (d) If any part of a reduction takes effect, then any time thereafter during which such part of the reduction is not in effect by reason of legislation of the United States or action thereunder shall be excluded in determining— (1) the 1-year intervals referred to in subsection (a)(2), and (2) the expiration of the 1 year referred to in subsection (c). SEC. 254. ROUNDING AUTHORITY. If the President determines that such action will simplify the computation of the amount of duty imposed with respect to an article, he may exceed the limitation provided by section 201(b)(1) or 253 by not more than whichever of the following is lesser: (1) the difference between the limitation and the next lower whole number, or (2) one-half of 1 percent ad valorem or an amount the ad valorem equivalent of which is one-half of 1 percent. SEC. 255. TERMINATION. (a) Every trade agreement entered into under this title shall be subject to termination or withdrawal, upon due notice, at the end of a period specified in the agreement. Such period shall be not more than 3 years from the date on which the agreement becomes effective. If the agreement is not terminated or withdrawn from at the end of the period so specified, it shall be subject to termination or withdrawal thereafter upon not more than 6 months' notice. (b) The President may at any time terminate, in whole or in part, any proclamation made under this title.

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