U.S. SLASHES TARIFFS

Gisborne Herald, Volume LXXIV, Issue 22463, 18 October 1947, Page 5

U.S. SLASHES TARIFFS

l TRADE PACT WITH BRITAIN GAINS IN AMERICAN MARKET (N.Z.P.A.—Reuter— Copyright.) (1130 a.m.) WASHINGTON, Oct. 17. The State Department spokesman disclosed today that tariff slashes in a large number of commodities had been conceded by the United States in the British-American trade agreement, which is to be signed on November 16 and which will be effective on January 1 without the necessity of Congressional authority.

Trade pacts with other countries will also be signed on November 16. The spokesman said: “Britain stands to gain a considerable advantage in the United States market immediately. We are as anxious as Britain to have her increase her exports to America.” Although he refused to give details of the American concessions for fear of arousing premature protests from domestic industries, the spokesman said that textiles, china, motor cars and whisky were all included.

The reduced duty on cars would give the British “baby models” a better opportunity in the American market.

The British concessions were not disclosed, but they are understood to include a 25 per cent cut in colonial preferences to be carried out in two years. Statement Next Week

It is believed that an announcement about the British-American agreement on tariffs and preferences will be made next Wednesday in the House of Commons, says Reuter. Both the Prime Minister and the Chancellor of the Exchequer, Dr. H. Dalton, will speak in the debate on the Speech from the Throne and one or other is expected to give such details. on the agreement as can be made public at this stage. In Geneva today, the British spokesman confirmed the report that Britain and the United States had reached agreements on major points of tariff and preference adjustments. He added that it would be improper to say that a final agreement had been reached since a number of matters were still outstanding and required consultation with the Commonwealth governments.