Minutes of the Final Meeting of the United States-Argentine Trade-Agreement Delegations, Signed October 14, 1941
With a view to recording the understanding which the Delegations of the United States of America and the Argentine Republic reached with respect to certain provisions of the Trade Agreement signed [Page 401] today, the Minutes of the Final Meeting of the two Delegations have been drawn up as follows:
- It was agreed that if the Government of either country finds it necessary to invoke the provisions of the second paragraph of Article XI or of the first paragraph of Article XII, it will in practice, prior to taking such action, afford the other Government adequate opportunity for consultation in regard to the proposed measure through the medium of the Commission provided for in the second paragraph of Article XII.
- It was agreed that if the Government of the United States finds it necessary to invoke the provisions of the third paragraph of Article VIII, it will, prior to taking such action, afford the Government of Argentina adequate opportunity for consultation in regard thereto through the medium of the said Commission.
- With reference to the exchange of notes relating to preferences to areas covered by the existing payments agreement between Argentina and the United Kingdom and to contiguous countries, respectively, it was agreed that the Government of either country, prior to according any such preference, with respect to any product of interest to the other country, would in practice afford the Government of the other country adequate opportunity for consultation through the medium of the said Commission.
- With reference to Article III, paragraph 2, it was of course understood that no obstacles of any kind would be placed in the way of imports of any product of interest to the other country unless it should be decided (subject to the provisions of Article XI) to announce publicly the imposition of a global quota and the allotments, if any, among the various supplying countries; moreover, it was agreed that once any global quota established by either country or the share therein allotted to the other country has been publicly announced as effective for a stated period, it will not ordinarily be reduced during that period.
- It was agreed that, while the texts of these minutes would not be published as such, there would be no objection to making the substance of them generally public.
Done in duplicate, in the English and Spanish languages, both authentic, at the City of Buenos Aires, this fourteenth day of October of the year nineteen hundred forty one.
[For final text of the reciprocal trade agreement between the United States and Argentina, signed at Buenos Aires on October 14, 1941, together with exchange of notes, see Department of State Executive Agreement Series No. 277, or 56 Stat. (pt. 2) 1685. For a detailed analysis of the treaty, see Department of State Bulletin, October 18, 1941, Supplement, pages 3 ff.]