AMERICAN TARIFF

Evening Star, Issue 21662, 6 March 1934, Page 7

AMERICAN TARIFF

PROPOSED ADJUSTMENT NO EASY MATTER Press Association—By Teltgraph—CopjHgkt. WASHINGTON, March 5. ‘The Times’ says; “Congress will hardly be able to refuse President Roosevelt the new powers asked, since there is no object in increasing the already monstrous volume of foreigners’ paper debt to America. Some way must be opened for Americans to pay in goods and services, but the range of America’s supplemental products is exceedingly limited. It would seem almost impossible, without encouraging competition from American industries, to increase American imports to an extent which would pay for the huge volume of exports necessary to restore prosperity to the fanner. The President’s bargaining power is so limited that he is unlikely to achieve an immediate spectacular revival of international trade, but it is encouraging to note that he recognises the truth that exports must be paid for by imports.” [The President asked Congress for authority to modify the tariff rates in negotiating commercial agreements with other nations.]