Ronald Reagan

“ The United States has complied with the terms of the Agreement. In October 1980, Argentina reduced its export tax to 10 percent, but has failed to reduce it further as required by the Agreement. The Government of Argentina has informed the United States that it does not intend to meet its obligations for further reductions in the export tax. ”

“ Section 125 (d) (1) of the Trade Act of 1974 (the Trade Act) (19 U.S.C. 2135 (d) (1) ) authorizes the President to withdraw, suspend, or modify the application of trade agreement obligations which are substantially equivalent to those which have been withdrawn, suspended, or modified by a foreign country, and to proclaim under section 125 (c) of the Trade Act such import restrictions as are appropriate to effect adequate compensation from that foreign country or instrumentality. ”