NEW TRADE PACTS

Dominion, Volume 26, Issue 182, 29 April 1933, Page 11

NEW TRADE PACTS

Britain and Argentina TARIFF REDUCTIONS ] Sterling Loan of £10,000,000 CHILLED BEEF MARKET ,l,y telegraph-—Press Asbu. —Copyright.. (Received April 28, 9.50 p.m.) ' London, April 28. file President of the Hoard of Trade, the Kt. Hon. Waiter Kunciniau, announced in the House o' Commons flint an agreement on all points of principle had to-day been reached with the Argentine Republic, and a treaty was now being dial ted, which, it was expected, would >■'" signed within the next few dais. The "Daily Telegraph” understands Hint the main points of the AngloArgentina agreement are that Argentina will lloat a loan of £10,000.000 sterling in London for the purpose of releasing British deposits frozen in Argentina as a result of exchange restrictions. Secondly, a reduction will be mauo by Argentina in duties ou 280 items, in eluding motor vehicles, agricultural machinery, and textiles, in return for which Argentina will secure stable markets for its chilled and frozen meat, subject to safeguarding the interests of the Dominions and the maintenance of the present price level. The agreement will operate for three years. GERMAN TREATY Market for British Coal NEW TARIFF SCHEDULE Official Wireless London, April 28. A White Paper issued to-night gives the terms of the Anglo-German commercial relations agreement on which the House of Commons resolution will be taken on Monday. The Government of the United Kingdom will undertake that German articles in the schedule attached to the Treaty shall not be subjected to duties higher than those specified, in return for which the German Government will secure, firstly, Hint licenses will be issued for the importation of no few-. er than 180,000 tons of British coal . monthly, and, secondly, that, if the i total coal, coal briquettes, and coke con- | sumption of Germany exceeds by 1 per cent. 7,500,000 tons in any month, licenses shall lie issued for the importation from Britain during the month following of Hie equivalent percentage over 180,000 tons. The schedule of German goods and maximum duties specified contains: Toys, 15 per cent. Certain musical instruments, including pianos. 2<) per cent. Cheap Hocks. 2-> per cent. I Varieties of cheap jewellery, 25 por cent. Domestic hollow-ware. 20 per cent.. Safety razor blades. 20 per cent., plus :i shilling per gross. NEW DANISH PACT Beaverbrook’s Criticism APPROVAL FROM “TIMES” Official Wireless. KlJghy, April 27. The now Anglo-Danish Trade Agrocnient has been well received by the Press in Copenhagen. “The Tinies" regards Hie agreement ns a good omen that it should coincide .so closely with the renewal of efforts to expedite the World Economic Conference. it says that it is safe, and the only ]tactical method of advance is for each country to survey its resources and needs, determine what it must produce for itself, and what imports to receive from others, and follow this up witli agreements for complimentary exchanges. So far from being an obstacle to the success of Hie coming conference, the agreement may well serve as a model. Lord Beaverbrook, leader of Hie Empire Free Trade Parly, states that the ' Danish Agreement is wicked. Supporters of the Empire Free Trade policy put the Government, in power. “We have been betrayed and sold to foreigners.’ he added. MEAT IMPORTATIONS Increase in First Quarter MR. RUNCIMAN EXPLAINS ; London, April 27. The Rt. Hon. Walter Rinieinuin, President of tiie Board of Trade, in answer to a question in the House ol Commons, admitted that Britain s imports of beef, mutton, and lamb during the past quarter had exceeded those of Ute first quarter of 1932 by 70.0l)0cwt. This, he said, was largely due to heavy arrivals of Australian ami Now Zea- | land multon and lamb. Those Dominion-’ undertakings to limit shipments applied to 1933 as a whole, not to quarterly restrictions, under the Ottawa Agreements, which began on January 1- Besides, (here was | a voluntary agreement to reduce chilled beef exports to Britain (luring Hie first quarter of 193." by 10 por cent, of the total admissible under the Ottawa Agreements. TARIFF WEAPON Britain’s Effective Use I.cntlon, April 27. i Mr. Walter Ritm-imati. President ol I Hie Board of Trade, speaking at the ■ British Chamber of Conimerce dinner. I said the Danish and other agreements | did not exhaust Britain's ability to use i the tariff weapon to reduce tariffs. England was recognised as a creditor nation. International pay melt Is must be made in goods and services. AngloAmerieiiii collaboration was based on Hu- recognition of this. » PRICES FIRM ; Stock Exchange Reactions , <iltleial Wireless. Rugby, April 27. When tin- Stock Exchange Hosed : British funds were tirm. witli tin- War Loan 3} per i-etit. 1100/11. Ktillirs ’’ were higher. Argentina railways were strong lolr lowing the news of tiie Anglo-Argentina trade agreement.