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American factories produced extraordinary quantities of equipment during WWII, so much that it dampened industries around the world for more than a decade. ‘Army Navy’ stores in America were still selling WWII surplus well into the ’70s, and that was primarily production over-run from end of the war. It was because of this post-WWII glut that US business successfully argued no US military surplus should be brought back from future wars.
At end of WWII most overseas US war material was sold off for pennies, donated to friendly governments, abandoned, scrapped, or dumped in the ocean if nobody wanted it. Little was brought back once it overseas.
This particular ‘deuce and a half’ was probably gifted to Iceland, who had no need for even a fraction of our equipment.