57 STAT.] ICELAND RECIPROCAL TRADE-AUG. 27, 1943 Agreement between the United States of America and Iceland respecting August 2,. 1943 reciprocal trade. Signed at Reykjavil August 27, 1943; proclaimed [E. A. S. 342 by the President of the United States of America September 30, 1943; ratified by the Regent of Iceland September 16, 1943; proclamation and instrument of ratification exchanged at Washington October 20, 1943; supplementary proclamation by the President of the United States of America October 22, 1943; effective November 19, 1943. BY THE PRESIDENT OF THE UNITED STATES OF AMERICA A PROCLAMATION WHEREAS section 350(a) of the Tariff Act of 1930 of the Congress of the United States of America, as amended by the act of June 12, 1934, entitled "AN ACT To amend the Tariff Act of 1930" (48 Stat. 943; U.S.C., 1940 ed., title 19, sec. 1351(a)), and as further amended by the joint resolution of June 7, 1943 (Public Law 66, 78th Congress, 57 Stat. - ), provides as follows: Ante, p. 12. "Sec. 350. (a) For the purpose of expanding foreign markets for the products of the United States (as a means of assisting in the present emergency in restoring the American standard of living, in overcoming domestic unemployment and the present economic depression, in increasing the purchasing power of the American public, and in establishing and maintaining a better relationship among various branches of American agriculture, industry, mining, and commerce) by regulating the admission of foreign goods into the United States in accordance with the characteristics and needs of various branches of American pro- duction so that foreign markets will be made available to those branches of American production which require and are capable of developing such outlets by affording corresponding market opportunities for foreign products in the United States, the President, whenever he finds as a fact that any existing duties or other import restrictions of the United States or any foreign coun- try are unduly burdening and restricting the foreign trade of the United States and that the purpose above declared will be pro- moted by the means hereinafter specified, is authorized from time to time- "(1) To enter into foreign trade agreements with foreign gov- ernments or instrumentalities thereof; and "(2) To proclaim such modifications of existing duties and other import restrictions, or such additional import restrictions, or such continuance, and for such minimum periods, of existing customs or excise treatment of any article covered by foreign trade agreements, as are required or appropriate to carry out any 1075
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