Proclamation 3062—Modification of Trade Agreement Concessions and Adjustment in Rates of Duty with Respect to Certain Watch Movements

1. Whereas, under authority of section 350 (a) of the Tariff Act of 1930, as amended, the President on January 9, 1936, entered into a trade agreement with the Swiss Federal Council, including two schedules and a declaration annexed thereto (49 Stat. (pt. 2) 3918), and by proclamation of January 9, 1936 (49 Stat. (pt. 2) 3917) , proclaimed the said trade agreement, which proclamation has been supplemented by proclamation of May 7, 1936 (49 Stat. (pt. 2) 3959), and proclamation of November 28, 1940 (54 Stat. (pt. 2) 2461); and

2. Whereas the said trade agreement was supplemented on October 13, 1950, by certain provisions set forth in the 13th recital of the President's proclamation of November 26, 1951 (Proclamation No. 2954; 16 F.R. 11943); and

3. Whereas the said trade agreement includes duty concessions granted by the United States with respect to products described in item 367 (a) of Schedule II of the said trade agreement (49 Stat. (pt. 2) 3940); and

4. Whereas, to carry out the said trade agreement, since February 15, 1936, duties at the rates respectively specified in the said item 367 (a) have been applied to the products described in such item, which duties reflect the duty concessions granted in the said trade agreement with respect to such products; and

5. Whereas the United States Tariff Commission has submitted to me its report of an investigation, including a hearing, under section 7 of the Trade Agreements Extension Act of 1951, as amended, as a result of which the Commission has found that certain products described in the said item 367 (a) are, as a result in part of the duties reflecting the concessions granted thereon in the said trade agreement, being imported into the United States in such increased quantities, both actual and relative, as to cause serious injury to the domestic industries producing like or directly competitive products; and

6. Whereas the Tariff Commission has recommended that the duty concessions granted in the said trade agreement with respect to certain products described in the said item 367 (a) be modified to permit the application to such products of higher rates of duty hereinafter proclaimed, which rates the Commission found and reported to be necessary to remedy the serious injury to the domestic industries producing like or directly competitive products; and

7. Whereas section 350 (a) (2) of the Tariff Act of 1930, as amended (48 Stat. 943) , authorizes the President to proclaim such modifications of existing duties as are required or appropriate to carry out any foreign trade agreement that the President has entered into under the said section 350 (a); and

8. Whereas upon the modification of duty concessions in the said trade agreement as recommended by the Tariff Commission it will be appropriate, to carry out the said trade agreement, as supplemented on October 13, 1950, to apply to the said products the rates of duty hereinafter proclaimed:

Now, Therefore, I, Dwight D. Eisenhower, President of the United States of America, acting under and by virtue of the authority vested in me by section 350 of the Tariff Act of 1930, as amended, and by section 7 (c) of the Trade Agreements Extension Act of 1951, and in accordance with the said trade agreement as supplemented October 13, 1950, do proclaim—

(a) That the provisions of item 367 (a) of Schedule II of the said trade agreement shall be modified, effective at the close of business July 27, 1954, so as to read as follows:

(b) That, until the President otherwise proclaims, the rates of duty specified in such modified item 367 (a) as set forth in paragraph (a) above shall be applied to articles entered, or withdrawn from warehouse, for consumption which are exported to the United States after the date of this proclamation, and shall be applied to articles exported to the United States on or before that date which are so entered or withdrawn after the close of business August 26, 1954.

The said proclamation of January 9, 1936, as supplemented, is modified accordingly.

In Witness Whereof, I have hereunto set my hand and caused the seal of the United States of America to be affixed.

DONE at the City of Washington this twenty-seventh day of July in the year of our Lord nineteen hundred and fifty-four, and of the Independence of the United States of America the one hundred and seventy-ninth.

DWIGHT D. EISENHOWER

By the President:

JOHN FOSTER DULLES,

Secretary of State