New U.S. Offer Breaks Trade Talks. Deadlock

Greymouth Evening Star, 11 October 1947, Page 5

New U.S. Offer Breaks Trade Talks. Deadlock

(Recd. 11.30 a.m.) LONDON, October 10. It is reliably reported that agreement has been practically reached in the trade talks between Britain and the United States, says the British United Press Geneva correspondent. A Board of Trade spokesman confirmed that negotiations between the two countries were under way.

It is stated authoritatively in London that the United States made a new offer in an attempt to break the deadlock in the Geneva tariff negotiations with Britain and Commonwealth countries, says Reuters.

It is understood . that the United States- suggested concessions ' giving substantial benefits to British shippers. The United States, however, expects in return the reduction and, in some cases, the' abolition of preferential margins in Commonwealth countries, on the lines of the original American proposals at Geneva.

Early Completion? “The completion of a-gigantic multilateral tariff accord is now regarded by the Geneva negotiators as a certainty,” said the New York. Times correspondent at Geneva. “Almost 100 separate agreements are expected to be finished by October 15, although the signing is unlikely to take place before the beginning of November.

“Broadly speaking, the United States has obtained concessions from the British Dominions to balance those it could not get from Britain. These concessions are mostly in preferential duties enjoyed by one Dominion in another Dominion or in Britain. They affect primarily United States agricultural exports.

“In return foi’ the new concessions from the Dominions, the United States is giving more to the Dominions and is simultaneously reducing the proposed concession to Britain on whisky—normally Britain’s largest single export to the United States.

Frank Bargaining

“A characteristic of the final phase of bargaining has been the frankness with which the United States and Australia have insisted that a concession on one type of agricultural product must be met with a concession on another.”

“Everyone hopes that satisfactory arrangements will be completed between the United States and Britain,” said the Minister of Finance (Mr W. Nash) last night, “but it is unlikely that there will be any agreement which will eliminate the preferences operating inside the British Commonwealth. I think there - may be some amendments in return from the United States agreeing to other proposals beneficial to the British Commonwealth.”