Proclamation 4993—Termination in Part of the Proclamations Carrying Out the Agreement Between the Governments of the United States of America and Argentina Concerning Hide Exports and Other Trade Matters

1. On August 10, 1979, the Governments of the United States of America and the Argentine Republic entered into an Agreement Concerning Hide Exports and Other Trade Matters (the Agreement) (TIAS 9976). The Agreement was implemented by Proclamation 4694 of September 29, 1979, and became effective October 1, 1979.

2. The Agreement provided in pertinent part that Argentina adopt a 20% ad valorem tax on exports of cattle hides, effective October 1, 1979, to replace its embargo on exports of such products, and then phase out the tax. The United States agreed to reduce its duty on bovine leather now provided for in item 121.61 of the Tariff Schedules of the United States (TSUS) (19 U.S.C. 1202), and to reduce its duty on corned beef provided for in item 107.48 of the TSUS.

3. Argentina has, since October 1980, failed to fully comply with the provisions of the Agreement.

4. As a result of Argentina's breach of the Agreement, I proclaimed, on October 20, 1981, by Proclamation 4876, a suspension in part of the column 1 rate of duty applicable to item 121.61 of the TSUS.

5. In July 1982, Argentina took further action inconsistent with its obligation under the Agreement. Since adequate compensation has not been received for Argentina's breach of the Agreement, I have determined that it is in the best interest of the United States to terminate the Agreement, and it has been terminated by an exchange of notes between the two parties, effective on October 30, 1982. I have further decided that the rate of duty on TSUS item 121.61 shall on that date be restored to the level at which it would have been but for the Agreement.

6. Section 125(f) of the Trade Act of 1974 (the Trade Act) (19 U.S.C. 2135(f)) requires the President to provide the opportunity for interested parties to present views at a public hearing prior to taking action pursuant to Section 125(b), (c), or (d) of the Trade Act (19 U.S.C. 2135(b), (c), or (d)). Such an opportunity was provided by holding such a hearing on October 6, 1982, at the Office of the United States Trade Representative (USTR).

Now, Therefore, I, Ronald Reagan, President of the United States of America, acting under the authority vested in me by the Constitution and the statutes of the United States, including Sections 125 and 604 of the Trade Act (19 U.S.C. 2135 and 2483), do proclaim that:

(1) Proclamation 4694 and Proclamation 4876 are terminated, insofar as they relate to the rate of duty for TSUS item 121.61 effective October 30, 1982, and insofar as they relate to TSUS item 107.48 effective October 30, 1983.

(2) The column 1 rate of duty applicable to item 121.61 of the TSUS is modified to read "5% ad val." effective as to articles entered or withdrawn from warehouse for consumption on and after October 30, 1982. Pursuant to section 604 of the Trade Act (19 U.S.C. 2483), modifications of TSUS item numbers and article descriptions made by Proclamation 4694 will remain in effect until terminated or modified by subsequent action. Pursuant to section 125(e) of the Trade Act (19 U.S.C. 2135(e)), the current column 1 rate of duty applicable to TSUS item 107.48 will, unless some earlier action is taken with regard thereto, remain in effect until October 30, 1983, at which time it will revert to 7.5% ad valorem.

In Witness Whereof, I have hereunto set my hand this twenty-ninth day of October, in the year of our Lord nineteen hundred and eighty-two, and of the Independence of the United States of America the two hundred and seventh.

RONALD REAGAN