U.S. TRADE ACT

Press, Volume XC, Issue 27374, 12 June 1954, Page 7

U.S. TRADE ACT

Vote For Extension In Lower House

WASHINGTON, June 10. The Ways and Means Committee of the United States House of Representatives voted unanimously today to continue the Reciprocal Trade Agreements Act for one year. The chairman of the committee, Dr. Daniel Reed (Republican, New York), predicted that the extension would win House approval tomorrow. At a press conference, President Eisenhower rejected Democratic suggestions that he had “backed away’’ from the three-year extension and the new tariff-cutting authority proposed by the Randall Commission. Nothing, he said, could be further from the truth.

Mr Eisenhower also said he could not agree to any plan under which certain Congressional leaders opposing reciprocal trade would support the one-year extension if he would agree Pot to negotiate any new trade agreements.

He said that what he desired now *as a simple one-year extension of the present law to permit Congress to take a new look at the overall foreign trade policy, and frame a long-range programme that would benefit the United States and its friends. Mr Reed, a leader of the protectionist bloc in the House, suddenly requested Urgent action on the one-year extension bill after Mr Eisenhower had announced that he would not insist on his request for a three-year continuance.

Mr Eisenhower also had asked for authority to cut tariffs an additional 15 per cent, over the three years as proposed by the Randall Commission, which made an extensive study of foreign trade. Mr Reed said the Ways and Means Committee Bill would give Congress time “to have thorough public hearings early next year.”