AUSTRALIAN TARIFFS

Evening Star, Issue 22351, 29 May 1936, Page 9

AUSTRALIAN TARIFFS

RETALIATION BY JAPAN REDUCTION IN WOOL PURCHASES Press Association—By / Telegraph—Copyright LONDON, May 28. The Tokio correspondent of the ‘ Financial -rimes ’ says it is understood that tho Japan Wool Industry Association has decided to reduce its annual takings of Australain wool by 250,000 bales, which will be made up by buying in South Africa, New Zealand, and South America. Japan will not participate in the Melbourne June auctions, and is sending employees to South Africa and South America to start buying in August. A DRASTIC DECISION JAPAN’S DIFFICULTIES POINTED OUT. SYDNEY, May 28. Tho report that Japan has decided to reduce her annual takings of Australian wool to 250,000 bales by buying in South Africa and New Zealand is regarded as drastic 'in wool circles in Sydney, but it is contended that buyers from other countries who operate in South Africa and New Zealand will be compelled to transfer some of their obligations to Australia, as supplies in any quarter cannot automatically be increased. It is also argued that if Japan buys more extensively in Africa and New Zealand she will find it necessary to change the class of fabrics she chiefly produces. Topmaking wools will mainly bo affected by the Japanese decision to boycott Australian wool. The fact that the Japanese do not intend to attend tho Melbourne June auctions is not regarded very seriously by wool-buying brokers, who will discuss the whole question of trade with Japan early next month.

AMERICAN COMMENT DIITATING NAZI POLICY. NEW YORK, May 28. The ‘ New York Times,’ in a leader, says: “ The Australians seem to be imitating the Nazi policy of trying to secure a balance of trade with each country, which policy, if spread internationally, would be more ruinous to Australia than most countries. If it thinks its direct trade with us is lopsidedly in our favour it should recall that its direct trade with many other countries is - just as lopsidedly in our favour. SUPPORT FOR RETALIATION TOKIO, May 28. (Received May 29, at 10.5 a.m.) The Economic Federation Executive Committee, presided over by Baron Goh, passed a resolution that it would fully support the Government in retaliating against Australia.