BRITAIN MAY BENEFIT

Evening Post, Volume CX, Issue 11, 12 July 1930, Page 6

BRITAIN MAY BENEFIT

REACTION FROM AMERICA

,S ELFISH PROTECTION

Britain may benefit in Continental trade as the result of the American Tariff, says the "Manchester Guardian."

There is a violent Continental reaction r against American goods, of which British and other manufacturers may be expected to take advantage. On the other hand, another benefit which may arise out of tho situation is that the endeavours of the League1 to organise concerted limitation and reduction of tariffs are beginning to be taken more seriously now that the results of irresponsible and selfish Protectionism threaten to become forcibly felt. .

A considerable agitation has been provoked in Switzerland by the proposed .increases in the United States tariff, which would seriously affect Swiss industries, especially the watchmaking and cotton trades. Meetings of protest have been held by the Geneva and other chambers of commerce, and tho Swiss Federal Government has discussed the situation and decided to instruct, the Swiss Minister at Washington to. lodge a protest. There is a general demand for concerted action on the part o,f European Powers if the new American tariff becomes law.

The watch and clock industry would be seriously injured by the>proposed duties, which would be equivalent to an embargo. One-sixth part of the entire watchmaking output of Switzerland. is exported to the United States at present. The other things which would be principally affected are cheese, wool and silk goods, embroideries, leather •and shoee, and chemicals. The ■ duty on embroidered goods under the new tariff would be increased from 75 per cent, to 93 per cent, of their value. Swiss exports to the United States amount at present to about £8,000,000 sterling, while the imports amount to £11,500,000 sterling. A leading article in the "Journal do Geneve" deprecates the suggestion that a campaign of retaliation should be undertaken, but it advocates action in common with other European nations. Everyone is beginning' to examine the origin, of the United States Tariff liilJ. It originated, of courso, in President Hoover's promises to the farmers, which, paradoxically, provided big business "lobbyists" with their opportunity.