BAN ON MACHINERY.
BRAZILIAN TEXTILE TRADE.
SEQUEL TO OVER-PRODUCTION. RIO DE JANEIRO. March 11. A decree was signed to-day by the President of Brazil, Dr. Getullo Vargas, prohibiting for three years the importation of machinery for manufacturing purposes,' because conditions of over-production are believed by the Government to exist in the textile and allied industries. The decree demands that an inventory of all machinery in Brazil be completed within 60 days.
A message from Washington says the Brazilian embargo is described by the officials of the Department of Commerce as the most drastic action taken by a South American country in recent times. The market was regarded as one of the most important outlets for such products.
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Bibliographic details
New Zealand Herald, Volume LXVIII, Issue 20821, 13 March 1931, Page 11
Word Count
117BAN ON MACHINERY. New Zealand Herald, Volume LXVIII, Issue 20821, 13 March 1931, Page 11
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