Article 4

On the dates indicated Iceland shall reduce customs duties on imports from the Community as originally constituted and from Ireland to the rates of the various basic duties applicable on 1 March 1970 specified below.

Basic duties	2	4	5	10	12	15	20	25	30	35	40	50	60	65	70	75	80	90	100
1 April 1973	2	4	4	7	8	11	14	18	21	25	30	35	40	45	50	55	55	65	70
1 January 1974	0	3	3	6	7	9	12	15	18	21	24	30	35	40	40	45	50	55	60
1 January 1975	0	3	3	5	6	7	10	13	15	17	20	25	30	30	35	35	40	45	50
1 January 1976	0	2	2	4	5	6	8	10	12	14	16	20	24	25	30	30	30	35	40
1 January 1977	0	2	2	3	4	4	6	7	9	10	12	15	18	20	21	22	25	25	30
1 January 1978	0	0	0	2	2	3	4	5	6	7	8	10	12	13	14	15	16	18	20
1 January 1979	0	0	0	2	2	2	2	2	3	3	4	5	6	6	7	7	8	9	10
1 January 1980	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

After 1 January 1974 Iceland shall continue to reduce customs duties in respect of Denmark, Norway and the United Kingdom in accordance with the timetable shown in paragraph 1.