EUROPE'S TRADE

Hawera Star, Volume XLVII, 23 May 1928, Page 7

EUROPE'S TRADE

RECOVERY FROM WAR. - PRODUCTION IMPROVES. <• INCREASED TARIFFS CHECKED. ' (UNITED PRESS ASSOCIATION—BY ELECTRIC TELEGRAPH—COPYRIGHT-)' > '••TIMES” CABLES./ ' Received 9.40 a.m. to-day. . LONDON. May 22: The Geneva correspondent of “The Times.’’ reviewing l Europe’s economic recovery, says:—The report of the League’s Economic Committee . points out thait Europe’s improvement in production in 1927 was the best since the wa.r, whereas, the .United States was at a standstill. Similarly, Europe’s trade lias advanced more than America’s. The comparative stability of the tariffs and exchanges is largely responsible for thiw, but it is not sufficient that Europe ten years after war should at last have recovered her pre-war standard. The committee expresses the opinion that the conference’s influence has substantia 11 v cheeked the upward trend of tariffs, which was in full swing in May, 1927. 1 The leading feature of the year has been the lincreased trading between the nations of. Europe, compared ■with Europe’s trading with oversea countries, especially the United States of America. In view of the low volume of* world trade: an effort shoulld he mode to reach a .general agreement for the -jpdnotion of tariffs'. ,

GENER AL REDUCTION IN TARIFFS

URGED

COLLECTIVE AGREEMENT ■SUGGESTED.

REPORT OF ECONOMIC COMMITTEE. Received 9:50 a.m.- to-day. GENEVA. May 22. It is understood that th© tariffs committee suggests that a continuous isffoirfc should be made to reach a collective agreement for a general reduction of tariffs, commencing with' particular groups of ■ commodities, especially articles most, important to economic life. Plie agreement should cover as many -itages of production as possible,, having regard to. the fact that if reductions are limited to duties on .raw material - r semi-finished .articles, ttese • reductions will increase the protection for he.se products in the later stages of manufacture.