FOREIGN TRADE

Press, Volume XCVII, Issue 28490, 21 January 1958, Page 11

FOREIGN TRADE

Importance To United States

(Rec. 9 p.m.) WASHINGTON, January 20.

President Eisenhower asked Congress in his annual economic message today to give foreign nations greater opportunities to earn dollars through expansion of trade with the United States. “If the outflow of dollar payments should cease to grow or should contract, the continuation of economic expansion abroad would become more difficult to achieve and measures aimed at restricting purchases from the United States might result, because of lack of dollars to pay for them,” he said. ‘‘A continued rise in the outflow of dollar payments, on the* other hand, would make for mutually-reinforcing economic expansion here and abroad. “The economic policies of the United States, both domestic and foreign, have an important bearing on these prospects,” he continued. “In the field of domestic economic policy, growth and stability are important objectives not only for this country’s welfare but also for their effects on foreign countries through our imports and in other ways. “In the field of foreign economic policy, our aims are expressed in programmes of economic and technical assistance for promoting economic development abroad and in efforts to extend the liberalisation of trade. “In all of this, we stand to benefit not only by the rise in foreign demand for our exports but also by the increase in foreign capacity to meet our import needs. “It would be a grave loss to impede our access to needed imports or to isolate ourselves from the •penalisations and skills of other countries,” he said.