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1 Excludes goods and services transferred under military grants, and the subscription to the International Monetary Fund of $1,375 million in the second quarter of 1959. * Includes large private direct investment involving cash payments.

Source: Based on data published by U.S. Department of Commerce, Survey of Current Business, June 1961.

Table B-4 appended to the Report on the Activities of the National Advisory Council on International Monetary and Financial Problems During the Period July 1 to December 31, 1960 (H. Doc. 241, 87th Cong.), p. 41.

B. Import Controls and Policy

381. ESTABLISHMENT OF THE WOOL FABRIC IMPORT QUOTA FOR CALENDAR YEAR 1960: Letter From the President (Eisenhower) to the Secretary of the Treasury (Anderson), February 8, 19601

DEAR MR SECRETARY: Proclamation 3160 of September 28, 1956,2 as amended by proclamations 3225, 3285, and 3317 of March 7, 1958,3 April 21, 1959, and September 24, 1959,5 respectively, provides for the increase of the ad valorem part of the duty in the case of any of the fabrics described in item 1108 or item 1109 (a) in Part I of Schedule XX to the General Agreement on Tariffs and Trade (Geneva1947) or in item 1109 (a) in Part I of that Schedule (Torquay-1951)' entered, or withdrawn from warehouse, for consumption in any calendar year following December 31, 1958, in excess of a quantity to be notified by the President to the Secretary of the Treasury.

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Pursuant to Paragraph 1 of that proclamation, as amended, I hereby notify you that for the calendar year 1960 the quantity of such fabrics on imports in excess of which the ad valorem part of the rate will be increased as provided for in the seventh recital of that proclamation, as amended, shall be 13,500,000 pounds.

On the basis of presently available information, I find this quantity to be not less than five per centum of the average annual production in the United States during the three immediately preceding calendar years of fabrics similar to such fabrics. Although it is believed that any future adjustments in statistics will not be such as to alter this finding, in the event that they do, I shall notify you as to the revised quantity figure.

Sincerely,

The Honorable ROBERT B. ANDERSON
Secretary of the Treasury

Washington, D.C.

DWIGHT D. EISENHOWER

Department of State Bulletin, Mar. 7, 1960, p. 368.

221 Fed. Reg. 7593.

23 Fed. Reg. 1687.

4 American Foreign Policy: Current Documents, 1959, pp. 1462-1464.

524 Fed. Reg. 7893.

6 TIAS 1700; 61 Stat. (5) and (6); 55–61 UNTS.

'TIAS 2420; 3 UST 588; 142 UNTS 34, 143–146 UNTS, 147 UNTS 159.

382. AN ACT TO AMEND THE SUGAR ACT OF 1948, AS AMENDED: Public Law 86-592, Approved July 6, 1960 $

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Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 412 of the Sugar Act of 1948 (relating to termination of the powers of the Secretary under the Act) is amended (1) by striking out "December 31, 1960" and inserting in lieu thereof "March 31, 1961”, (2) by inserting", until March 31, 1961," after "power", and (3) by striking out "the crop year 1960 and previous crop years" and inserting in lieu thereof "any crop year beginning prior to March 31, 1961". SEC. 2. Sections 4501 (c) and 6412(d) (relating to the termination and refund of taxes on sugar) of the Internal Revenue Code of 1954 are amended by striking out "June 30, 1961" in each place it appears therein and inserting in lieu thereof "September 30, 1961".

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SEC. 3. Section 408 of the Sugar Act of 1948, as amended (relating to suspension of quotas),11 is amended to designate such section as subsection "(a)"; and to add a new subsection (b)" as follows:

"(b) Notwithstanding the provisions of title II of this Act,12 for the period ending March 31, 1961:

"(1) The President shall determine notwithstanding any other provisions of title II, the quota for Cuba for the balance of calendar year 1960 and for the three-month period ending March 31, 1961, in such amount or amounts as he shall find from time to time to be in the national interest: Provided, however, That in no event shall such quota at any time exceed such amount as would be provided for Cuba under the terms of title II in the absence of the amendments made herein, and such determinations shall become effective immediately upon publication in the Federal Register of the President's proclamation thereof;

"(2) For the purposes of meeting the requirements of consumers in the United States, the President is thereafter authorized to cause or permit to be brought or imported into or marketed in the United States, at such times and from such sources, including any country whose quota has been so reduced, and subject to such terms and conditions as he deems appropriate under the prevailing circumstances, a quantity of sugar, not in excess of the sum of any reductions in quotas made pursuant to this subsection: Provided, however, That any part of such quantity equivalent to the proration of domestic deficits to the country whose quota has been reduced may be allocated to domestic areas and the remainder of such quantity (plus any part of such

H.R. 12311, 86th Cong.; 74 Stat. 330. See H. Rept. 1746, 86th Cong., June 6, 1960; Extension of the Sugar Act of 1948, as Amended: Hearings Before the Committee on Agriculture, U.S. House of Representatives, 86th Congress, 2d Session, on H.R. 12311, H.R. 12534, and H.R. 12624 (Part I), June 22, 1960; and H. Rept. 2090, 86th Cong., July 3, 1960.

9 65 Stat. 320; 70 Stat. 221; 7 U.S.C. § 1101 note.

10 68A Stat. 533, 796; 72 Stat. 1306; 26 U.S.C. §§ 4501, 6412.

11 61 Stat. 933; 7 U.S.C. § 1158.

12 61 Stat. 923; 70 Stat. 217; 7 U.S.C. §§ 1111-1122.

allocation that domestic areas are unable to fill) shall be apportioned in raw sugar as follows:

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"(1) There shall first be purchased from other foreign countries for which quotas or prorations thereof of not less than three thousand or more than ten thousand short tons, raw value, are provided in section 202(c), such quantities of raw sugar as are required to permit importation in such calendar year of a total of ten thousand short tons, raw value, from such country;

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"(ii) There shall next be purchased from the Republic of the Philippines 15 per centum of the remainder of such importation;

(iii) The balance, including any unfilled balances from allocations already provided, shall be purchased from foreign countries having quotas under section 202(c), other than those provided for in the preceding subparagraph (i), in amounts prorated according to the quotas established under section 202(c): Provided, That if additional amounts of sugar are required the President may authorize the purchase of such amounts from any foreign countries, without regard to allocation;

"(3) If the President finds that raw sugar is not reasonably available, he may, as provided in (2) above, cause or permit to be imported such quantity of sugar in the form of direct-consumption sugar as may be required."

SEC. 4. Sections 101 (j), 203, 205 (a), 209 (a), 209 (c), and 307 of the Sugar Act of 1948, as amended,1 are each amended by striking out the words "The Territory of" in each place where they appear therein.

[UNITED STATES REDUCTION OF THE CUBAN SUGAR IMPORT QUOTA FOR THE BALANCE OF CALENDAR YEAR 1960: Statement by the President (Eisenhower), Issued July 6, 1960-Ante, doc. 77]

[THE REQUEST FOR STATUTORY AUTHORITY TO REDUCE THE DOMINICAN REPUBLIC SUGAR IMPORT QUOTA: Message From the President (Eisenhower) to the Congress, August 23, 1960-Ante, doc. 101]

[UNITED STATES POLICY RESPECTING THE DOMINICAN REPUBLIC SUGAR IMPORT QUOTA: Aide-Mémoire From the Department of State to the Embassy of Venezuela in Washington, September 30, 1960-Ante, doc. 104]

187 U.S.C. § 1112.

147 U.S.C. §§ 1101, 1113, 1115, 1119, 1137.

[UNITED STATES DETERMINATION OF THE CUBAN SUGAR IMPORT QUOTA FOR THE FIRST QUARTER OF CALENDAR YEAR 1961: Statement by the President (Eisenhower), Issued December 16, 1960-Ante, doc. 93]

C. Export Controls and Policy

[See also the unnumbered titles printed in Parts III and IV under the country headings for Canada, France, Italy, Portugal, and the United Kingdom, ante, pp. 308, 362, and 365–367.]

383. A NATIONAL PROGRAM TO EXPAND UNITED STATES EXPORTS: Message From the President (Eisenhower) to the Congress, Transmitted March 17, 1960 1

To the Congress of the United States:

Because increased exports are important to the United States at this time, the administration has developed a program to promote the growth of our export trade. While most of the public steps to be taken with this end in view can be accomplished under existing legislative authority, the cooperation and support of the Congress are vital to the success of this program.

Expanded exports can add substantially to the millions of jobs. already generated for our people by export trade. At the same time, our export surplus contributes significantly to our capacity to sustain our expenditures abroad for investment, private travel, maintenance of U.S. military forces, and programs of foreign economic cooperation. To support these essential activities, which are reflected in our international balance of payments, we must, as I pointed out in my state of the Union message, promote a rising volume of exports and world trade.

Unlike the sellers' markets of early postwar years, when productive capacity abroad was limited, world markets have recently become highly competitive. To expand exports in these circumstances demands a more vigorous effort by both Government and business to improve our capacity for international competition.

Through the trade agreements program we shall continue to work with other countries toward the removal of unnecessary obstacles to international trade and payments. The discriminatory restrictions that other countries imposed at a time when they had serious balanceof-payments difficulties have been especially burdensome to our exports. Economic improvement in many countries has removed the

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1H. Doc. 359, 86th Cong. (text as printed in the Department of State Bulletin, Apr. 11, 1960, pp. 560-561).

2 Ante, doc. 1.

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