BRITISH TRADE WITH U.S.

Press, Volume LXXIII, Issue 22103, 27 May 1937, Page 11

BRITISH TRADE WITH U.S.

+ POLICY STATED IN COMMONS TARIFFS AND BARGAINING FACILITIES (BBITI9H OFFICIAL WIMSLKSS.) RUGBY, May 25. Britain's trade policy was discussed by the President of the Board of Trade (Mr Walter Runciman) in a speech in the House of Commons, fn which he made reference to the negotiations for an Anglo-American trade agreement. Defending the tariff system introduced in 1931 and 1932, Mr Rundman said he would like to emphasise his view:— . (1) That if tariffs were carried too far they became madness. (2) That if an attempt was made to dispense with them in a world v/hich had adopted them as a fixed policy, bargaining facilities were reduced, and the United Kingdom in this respect would suffer more perhaps than any country in the world. Mr Runciman said he was prepared to agree that any form of preference adopted might be subject, if necessary, to alteration to suit changed conditions. "In making a new survey of the world as we are doing," he continued, "we will not overlook the fact that there is more than one way in which preference can be applied, but we must not be asked to abandon the preference system which is now an essential part of our Imperial policy." Mr Runciman added that the discussions this week within the Imperial Conference would turn on some economic questions with a direct bearing on the negotiations for an Anglo-American trade agreement, and on Britain's relations with the United States. The Minister concluded with an optimistic review of conditions in the leading industries.