BRITAIN’S TRADE

Dominion, Volume 25, Issue 170, 14 April 1932, Page 7

BRITAIN’S TRADE

Adverse Balance Drops / TARIFF INFLUENCE Helpful to Home Industries By Telegraph—Press Assn. —Copyright. (Rec. April 13, 7.45 p.m.) London, April 13. The newspapers emphasise the historic interest of the Board of Trade returns for March, following seventy years of Free Trade. They point out the striking reduction in the adverse balance of Britain’s trade during the first month of the operation of the general tariff, the excess of imports for March being only £20,923,000, which Is £10,267,000 less than for February. Moreover, imports which suffered reductions are manufactured articles, While the exports were the highest of the year. Therefore reform papers claim that there is evidence that the effect of the new tariff in, many directions will soon be helpful to home industries. The least satisfactory feature is a further decline in coal exports owing to import restrictions in France, Germany, and Belgium. OFFICIAL RETURNS Exports Up, Imports Down Official Wireless. Rugby, April 12. An increase in exports and a decrease in imports are shown in the Board of Trade returns for March—the first complete month since Britain changed her tariff policy. Figures issued to-day show that the month’s exports were valued at £36;620,376, about £1,200,000 over the February total, and imports at £61,119,411, over £9,000,000 less than February. The adverse trade balance has been reduced to £24,499,000, compared with £3-1,738,068 in the previous month. London, April 12. The British trade returns for March, .1932, as compared with March, 1931, show that imports decreased by £9,482,000, exports by £2,793,000, and reex]>orts by £14,000. 'The principal decreases were: Imports—Food and drink, £1,957,000; iron and steel and manufactures thereof, £723,000; cotton yarns and manufactures, £658,000; Woollen yarns and manufactures, £1,060,000; apparel, £l,358,000; miscellaneous manufactured articles, £1,101,000.- Exports—Coal, £572,000: vehicles, £1,342,000. Increases were: Imports—Grain and flour, £766,000; raw cotton, £1,060,000; raw wool, £807,000. Exports—Cotton yarns and manufactures, £979,000. h QUOTA RESTRICTIONS British Coal in Europe DISCRIMINATORY ACTION Official Wlrelos*. Rugby, April 12. The President of the Board of Trade, Mr. W. Runciman, to-day answered further Parliamentary questions regarding the "restrictions ou the importation of British coal Into Germany, France, and Belgium.” lie repeated that successive German quota restrictions were regarded as discriminatory against Britain. The French and Belgian quota restrictions applied imported from all countries, but the methods of calculating quotas and administering the licensing scheme which gave effect to the quotas were considered inequitable to Britain. In Italy a general landing duty of 24 lira per ton applied only to coal imported by sea. Accordingly, it affected coal from this country to a greater extent than coal from other countries. Mr. Itunciman said where there was discrimination against Britain it could not be Ignored, and such steps as appeared to be necessary must J be taken. GETTING TOGETHER Employers and Employed MUTUAL HELPFULNESS Official Wireless. Rugby, April 12. ’ Tlie Prince of Wales in a message to the National Industrial Alliance to-day said that be could see no more hopeful sign for the restoration of industrial prosperity and consequent well-being of the people of this country than the determination of employers and employed to get together in a spirit of mutual helpfulness and by pooling experiences and special knowledge to seek to solve the many problems which at present concerned them. NEW UNDERTAKINGS Foreign Firms in Britain Official Wireless. Rugby. April 12. In a.Parliamentary answer, the President of the Board of Trade, Mr. W. Itunciman, said that the Board of Trade had received information regarding upward of forty new undertakings which bad been set up in Britain during the past few months by or with the assistance of foreign concerns.