U.S. Role In World Trade

Northern Advocate, 5 June 1947, Page 7

U.S. Role In World Trade

(Special) V/ELLINGTON, This Day. "The United States lias a major role to play in the next decade in the structure of world trade, production and living standards,” said the Minister of Finance (Mr Nash) at a Press conference yesterday. "It cannot play this role successfully if its only objective is to get its tariffs down in other countries to the same extent that it reduces tariffs in its own country. “The United States has got to find a way of importing more. My job on behalf of the New Zealand Government would be three-parts solved if there was a will in the United States to take the goods we produce. “I cannot see the international trade conference at Geneva failing, but the worst blow of the lot would be the passing of the American Wool Bill. "The ultimate decision by America whether it will impose an increase of 50 per cent on the duty on imported wool is vitally important to New Zealand. Australia and South Africa. “Discussions are still taking place about the tariff on wool and we are hoping .for some alteration which will lead back to the original proposal. “The non-alteration in the rate originally offered by America would make it extremely difficult for New Zealand,, Australia and South Africa to export wool to America." Mr Nash said that when the United States had made a decision on the question of the wool tariff he would make a further statement.

During his absence abroad Mr Nash attended the Economic and Social Council of the United Nations in New York, the International Trade Conference in Geneva, British Commonwealth trade talks in London, and an international refugee conference in Lausanne, Switzerland. Referring to the problem of the best means of assisting the emergency children’s relief fund, Mr Nash mentioned the recent proposal that one day’s pay from workers throughout the world should be made during September, October and November. This proposal had been discussed at length at the council. The proposal was still being considered and it was possible that a decision would be made to ask for one day’s income rather than one day's pay. The position was desperate, as there were 40,000,000 children in Europe who would not have enough to eat unless something was done before the end of this year. New Zealand had undertaken to do whatever was necessary.