73d CONGRESS . SESS. I. CH. 90. JUNE 16, 1933 . that any article or articles are being imported into the United States in substantial quantities or increasing ratio to domestic production of any competitive article or articles and on such terms or under such conditions as to render ineffective or seriously to endanger the maintenance of any code or agreement under this title, the President may cause an immediate investigation to be made by the United States Tariff Commission, which shall give precedence to investiga- tions under this subsection, and if, after such investigation and such public notice and hea ring a s he sh all spe cify, the Pre sident shall find the existence of such facts, he shall, in order to effectuate the policy of this title, direct that the article or articles concerned shall be permitted entry into the United States only upon such terms and conditions and subject to the payment of such fees and to such limitations in the total quantity which may be imported (in the course of any specified period or periods) as he shall find it necessary to prescribe in order that the entry thereof shall not render or tend to ineffective any code or agreement made under this title . In order to enforce any limitations imposed on the total quantity of imports, in any specified period or periods, of any article or articles under this subsection, the President may forbid the importation of such article or articles unless the importer shall have first obtained from the Secretary of the Treasury a license pursuant to such regu- lations as the President may prescribe . Upon information of any action by the President under this subsection the Secretary of the Treasury shall , through the proper offic ers, permit en try of the article or articles specified only upon such terms and conditions and subject to such fees, to such limitations in the quantity which may be imported, and to such requirements of license, as the President shall have directed . The decision of the President as to facts shall be conclusive . Any condition or limitation of entry under this sub- section shall continue in effect until the President shall find and inform the Secretary of the Treasury that the conditions which led to the imposit ion of such c ondition or l imitation upon entry no longer exists . (f) When a code of fair competition has been approved or pre- scribed by the President under this title, any violation of any pro- vision thereof in any trans action in or a ffecti ng inte rstate or for eign commerce shall be a misdemeanor and upon conviction thereof an offender shall be fined' not more than $500 for each offense, and each day such violation continues shall be deemed a separate offense . AGREEMENTS AND LICENSES 197 Investigation by Tar- iff Commission . Notice and hearing. President to prescribe ter ms, et c ., for admis- sion of articles. Limitation of total admit ted quant ity . President ma y for- bid importation unless im porter licen se ob- tai ned . Administrat ion of terms, etc., imposed by Pre sid ent . Decision conclusive . Conditions and limi- tations, effective pe- riod, violations of provi- sions of code . Penalty. A greem ents and li- censes . SEC . 4. (a) The President is authorized to enter into agreements Authority of tra de dent to enter trade with, and to approve voluntary agreements between and among, per- a greem ents . sons engaged in a trade or industry, labor organizations, and trade or industrial organizations, associations, or groups, relating to any trade or industry, if in his judgment such agreements will aid in effectuating the policy of this title with respect to transactions in or affecting interstate or foreign commerce, and will be consistent with the requirements of clause (2) of subsection (a) of section 3 for a `"I"1e'p.19I. code of fair competition . (b) Whenever the President sh all find that destructive w age or Licenses. Issue of , to business price cutting or other activities contrary to the policy of this title enterprises when unfair practices m trade or are being practiced in any trade or industry or any subdivision industry, th ereof, and, a fter su ch pub lic not ice and heari ng as h e shall speci fy, shall find it essential to license business enterprises in order to make effective a code of fair competition or an agreement under this title or other wise to effect uate t he poli cy of t his ti tle, an d shall publi cly
