NETHERLANDS-TRADE -JULY 2, 1948 that such undertakings shall be without prejudice to the applica- tion of the principles set forth in the Havana Charter for an Inter- national Trade Organization relating to the reduction of tariffs on a mutually advantageous basis. " 4. It is recognized that the absence of a uniform rate of exchange for the currency of the areas in western Germany, referred to in point 1, above, may have the effect of indirectly subsidizing the exports of such areas to an extent which it would be difficult to calculate exactly. So long as such a condition exists, and if con- sultation with the Government of the United States of America fails to reach an agreed solution to the problem, it is understood that it would not be inconsistent with the undertaking in point 1 for the Government of the Netherlands to levy a countervailing duty on imports of such goods equivalent to the estimated amount of such subsidization, where the Government of the Netherlands determines that the subsidization is such as to cause or threaten material injury to an established domestic industry or is such as to prevent or materially retard the establishment of a domestic industry. " 5. The undertakings in this note shall remain in force until January 1, 1951, and, unless at least six months before January 1, 1951, either Government shall have given notice in writing to the other of intention to terminate these undertakings on that date, they shall remain in force thereafter until the expiration of six months from the date on which such notice shall have been given. I have the honour to inform your Excellency that the Netherlands Government agree with the contents of the above Note. I avail myself of this opportunity to renew to your Excellency the assurances of my highest consideration. W. v. BOETZELAER. His Excellency Dr. HERMAN B. BARUCH, Ambassador Extraordinary and Plenipotentiaryof the United States of America, The Hague. 62 STAT.] 2923
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