TRADE OF EUROPE

Manawatu Standard, Volume XLVIII, Issue 148, 23 May 1928, Page 7

TRADE OF EUROPE

ECONOMIC RECOVERY. STABILITY OF TARIFFS. EFFORT AT REDUCTION NECESSARY. (United Press Association—By Electric Telegraph—Copyright). (Times Cables). Received May 23. 8.35 a.m. LONDON, May 22. The Geneva correspondent of the Times, in a review of Europe’s economic recovery, states: “The report of the League’s Economic Committee points out that Europe’s improvement in production in 1927 was the best since the war, whereas the United States was at a standstill. Similarly, Europe’s trade advanced more than America’s.

“The comparative _ stability 6f tariffs and exchanges is largely responsible for this, but it is not sufficient that Europe, ten years after the war, should at least have recovered the pre-war standard.

“The committee expresses the opinion that the influence of the conference has substantially checked the upward trend of tariffs, which was in full swing in May of 1927. “A leading feature of the year has been the increased trading between the nations of Europe, compared with Europe’s trading with oversea countries, especially the United States. “In view of the low volume of world trade an effort should be made to reach a general agreement for a reduction or tariffs.”

COLLECTIVE A GREEMENT

WIDE SCOPE ESSENTIAL,

(Australian Press Association.) Received Mav. 23, 8.40 a.m. GENEVA, May 22

It is understood that the Tariffs Committee suggests that a continuous effort 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.

Th© agreement should cover as many stages of production as possible, having regard to the fact that if reductions are limited to duties on the raw material, or semi-finished articles, these reductions will increase protection for these products in the later stages of manufacture.