BRITISH TRADE

Hokitika Guardian, 11 June 1937, Page 5

BRITISH TRADE

WITH AMERICA HOPE FOR GENERAL EXPANSION. [United Tress Association—By Electric Telegraph—Copyright). LONDON, June 9. During the debate in the House of Commons on the Finance Bill both the Chancellor of the Exchequer (Sir John Simon) and the President of the Board of Trade (Mr Oliver Stanley) referred to the prospect of a. trade agreement between the United States and Britain. Their intervention arose out of a Liberal amendment proposing to limit i to six months the authority given rn I the bill for the continuance of Imperial preferences. Liberal speakers urged that nothing should be done to interfere with the success of efforts to secure a trade agreement with the United States. Sir John Simon explained .that informal and exploratory work was being done to determine whether a basis could be found for trade negotiations | between the two countries. The Dominions had been kept fully informed, and there was no reason to think that matters would be facilitated by the limitation imposed in the amendment, j Sir John Simon submitted that it was plainly right in the circumstances to continue the stabilisation of the rates of Imperial preference for an-, other 12 months. Mr Oliver Stanley expressed regret at the impression that there was i necessarily an antithesis between the 1 principle of Imperial preference and 1 the possibility of a trade agreement , with America. He did not think that the antithesis existed and an agreement with other countries need not ' necessarily impinge on, far less destroy, the policy of Imperial preference. | Mr Stanley deprecated the idea that j all the impetus for the agreement came from America and all'the , obstacles from London. The House of Commons, the country, and the Government were anxious in these exploratory conversations to find some basis for negotiations. I” the practical difficulties were over-; come and if negotiations took place I and an agreement were reached lie I hoped that not only Britain and the j United States, but the Empire and the world as a whole would find solid advantages in expanding trade.