BRITISH GOODS AFFECTED

Press, Volume LXXI, Issue 21404, 21 February 1935, Page 13

BRITISH GOODS AFFECTED

* RESTRICTIONS IMPOSED BY ITALY ADVERSE TRADE BALANCE EFFORT TO SAVE LIRE (UNITED PRESS ASSOCIATION —BY ELECTRIC TELEGRAPH—COPYRIGHT.) (Received February 20, 5.5 p.m.) ROME, February 19. The official gazette shows that all the chief British exports to Italy will be affected by the new restrictions. The list of 1500 articles requiring special import licenses include coal, machinery, woollen clothing, raw and prepared skins, worked steel, iron, fish, manufactured cotton, linen, hemp, tobacco, spirits, tea, and biscuits. They aimed not only at reducing imports, but also at affording points on which to bargain, to enable Italy to obtain favourable treatment for her exports. Importers in Italy have been expecting the edict for some months, and have larg. quantities of raw materials in hand. Figures given in December, 1934, showed that Italy's exports for the 11 months of 1934 had fallen by £ 14,000.000 compared with the same period of 1933, causing the adverse trade balance to rise from £22,000,000 to £40.000.000. Control over dealings k in foreign exchange has been tightened up, and f .he new restrictions on imports are further designe 1 to decrease the adverse trade balance.

FOREIGN IMPORTS NOT TO BE SUPPRESSED STATEMENT BY ITALIAN PUBLICIST (Received February 20, 11.20 p.m.) ROME, February 20. Signor Gayda, an official publicist, in an article in "Giornale d'ltalia," says, "Italy is not going to suppress foreign imports, but to regulate them according to the needs and possibilities of the lira. We are entering a phase of widespread manoeuvring." SUBSTITUTES TO BE FOUND ITALY'S FUTURE POLICY (Received February 20, 11.30 p.m.) LONDON, February 20. The "News Chronicle's" Rome correspondent says that it is asserted that substitutes will be found for goods hitherto imported into Italy. Foreign finished products will be practically banned. Italy's future policy will be bar-' ter agreements with individua 1 countries. ADVERSE TRADE BALANCE