or at a
current rate of Exchange say £1.12.9 per ton, a
da gamble against the present duty of 8/9 per ton; it must be observed that this heavy duty will be absolutely fixed and inalterable for a period of twelve years, whatever the market value of the sugar
in the
meantime.
2. Under the existing Tariff Raw Sugar has been paying import duty of 13 cents per picul,
at current rate of Exchange 4/0 per ton; quantity of
considerable
such
sugar
is imported into Japan through Hongkong from the Straits Settlements, also British Colonies,
a remarkable fact
yet it
that
mention is made in
or not as it pleases.
430
I. It is to be noted that hitherto the manufacture of Refined Sugar in Japan has been practically non-existent, except for
a small Beet Factory in the Hokkaido, and the supply of Refined Sugar has almost exclusively been drawn from Hong Kong; Article 4 of the Protocol reads
as follows:-
"It is understood between
the two Contracting Parties
that, if Japan thinks it necessary
to levy
an additional customs duty
on the production
or manufacture of refined sugar in Japan,
an increased customs duty
may
be
levied
in amount equivalent to
that on
British refined sugar
in the New Tariff so
long as such additional excise
or inland duty continues. "to be raised