Page:United States Statutes at Large Volume 60 Part 1.djvu/180

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79TH CONG. , 2D SESS.-CH. 244 -APR. 30, 1946 SEC. 403. OBLIGATIONS OF UNITED STATES. The President of the United States is not authorized by section 401 to enter into such executive agreement unless in such agreement the Government of the United States agrees- (a) That upon the taking effect of the agreement the provisions of Title II- (1) if in effect as laws of the United States at the time the agreement takes effect, shall continue in effect as laws of the United States during the effectiveness of the agreement; or (2) if not so in effect at the time the agreement takes effect (because suspended under section 502 of Title V) shall take effect and continue in effect as laws of the United States during the effectiveness of the agreement. (b) That the United States will promptly enact, and keep in effect during the effectiveness of the agreement, such legislation as may be necessary to supplement and implement the provisions of Title II so continued in effect, or so made to take effect, as laws of the United States. (c) That with respect to quotas on Philippine articles (other than the quotas established in Part 2 of Title II, and other than quotas established in conjunction with quantitative limitations, applicable to products of all foreign countries, on imports of like articles), the United States will not establish any such quota for any period before January 1, 1948; and that, for any part of the period from January 1, 1948, to July 3, 1974, both dates inclusive, it will establish such a quota only if- (1) the President of the United States, after investigation, finds that such Philippine articles are coming, or are likely to come, into substantial competition with like articles the product of the United States; and (2) the quota established for any Philippine article for any twelve-month period is not less than the amount determined by the President as the total amount of Philippine articles of such cliss which (during the twelve months ended on the last day of the month preceding the month in which occurs the date pro- claimed by the President as the date of the beginning of the inves- tigation) was entered, or withdrawn from warehouse, in the United States for consumption; or, if the quota is established for any period other than a twelve-month period, is not less than a proportionate amount. (d) That during the effectiveness of the agreement the United States will not reduce the preference of 2 cents per pound provided in section 2470 of the Internal Revenue Code (relating to processing taxes on coconut oil, etc.) with respect to articles "wholly the produc- tion of the Philippine Islands" or articles "produced wholly from materials the growth or production of the Philippine Islands"; except that it may suspend the provisions of subsection (a) (2) of such sec- tion during any period as to which the President of the United States, after consultation with the President of the Philippines, finds that adequate supplies of neither copra nor coconut oil, the product of the Philippines, are readily available for processing in the United States. SEC. 404. TERMINATION OF AGREEMENT. The President of the United States is not authorized by section 401 to enter into such executive agreement unless it provides- (a) TERMINATION IN GENERAL--That the agreement shall have no effect after July 3,1974; and Ante, p. 143 . Continuance of designated provisions as U. S. laws. Post, p. 155. Supplementary legislation. Quotas. Ante, p. 144 . Coconut oil, etc. 53 Stat. 264. 26U.S.C.i2470; Supp. V, § 2470 note. Port, p. 157. 153 60 STAT.]