IN ACCORDANCE with Section 407 of the Trade Act of 1974, I am transmitting herewith a copy of a Proclamation  extending nondiscriminatory treatment to the products of the Socialist Republic of Romania. I am also enclosing the text of the Agreement on Trade Relations between the United States of America and the Socialist Republic of Romania, which was signed on April 2, 1975, and which is included as an Annex to the Proclamation.
I am enclosing herewith a copy of the report which was transmitted to the Congress this date as required by Section 402(c)(1) of the Trade Act of 1974, and I shall issue today an Executive Order  waiving the application of subsections (a) and (b) of Section 402.
This agreement caps a decade of improvements in all areas of US-Romanian relations. It will place our trade with Romania on a nondiscriminatory basis that will promote continued development of mutually beneficial economic ties. It will thereby bring the structure of our economic relations into accord with the very satisfactory state of our political relations.
This agreement is consistent with the letter and the spirit of the Trade Act of 1974. In addition to providing for mutual extension of most-favored-nation tariff treatment, it meets the requirements of Title IV that are designed to ensure overall reciprocity of economic benefits. Its special safeguard arrangements provide the strongest possible assurance that our trade with Romania will continue to grow without injury to domestic firms or loss of jobs for American workers. American businessmen are assured of basic rights and facilities in establishing operations in Romania and doing business with Romanian enterprises. Other provisions include protection for industrial property rights, industrial processes, and copyrights; and encouragement of third-country arbitration of commercial disputes under the rules of the International Chamber of Commerce.
I urge that Congress act as soon as possible to approve the agreement under the provisions of Section 407.
GERALD R. FORD