INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [57 STAT. Purposes declared Most-favored-nation treatment. Limitation on inter- nal taxes, etc. The President of the United States of America and His Excellency the Regent of Iceland, being desirous of strengthening the traditional bonds of friendship existing between the two countries by maintaining the principle of equality of treatment in its unconditional and unlimit- ed form as the basis of commercial relations and by granting mutual and reciprocal concessions and advantages for the promotion of trade, have through their respective Plenipotentiaries arrived at the follow- ing Agreement: ARTICLE I 1. The United States of America and Iceland will grant each other unconditional and unrestricted most-favored-nation treatment in all matters concerning customs duties and subsidiary charges of every kind and in the method of levying duties, and, further, in all matters concerning the rules, formalities and charges imposed in connection with the clearing of goods through the customs, and with respect to all laws or regulations affecting the sale, taxation or use of imported goods within the country. 2. Accordingly, articles the growth, produce or manufacture of either country imported into the other shall in no case be subject, in regard to the matters referred to above, to any duties, taxes or charges other or higher, or to any rules or formalities other or more burden- some, than those to which the like articles the growth, produce or manufacture of any third country are or may hereafter be subject. 3. Similarly, articles exported from the territory of the United States of America or Iceland and consigned to the territory of the other country shall in no case be subject with respect to exportation and in regard to the above-mentioned matters, to any duties, taxes or charges other or higher, or to any rules or formalities other or more burdensome, than those to which the like articles when consigned to the territory of any third country are or may hereafter be subject. 4. Any advantage, favor, privilege or immunity which has been or may hereafter be granted by the United States of America or Iceland in regard to the above-mentioned matters, to any article originating in any third country or consigned to the territory of any third country shall be accorded immediately and without compensation to the like article originating in or consigned to the territory of Iceland or the United States of America, respectively. ARTICLE II Articles the growth, produce or manufacture of the United States of America or Iceland, shall, after importation into the other country, be exempt from all internal taxes, fees, charges or exactions other or 1078
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