TRADE TREATY

New Zealand Herald, Volume LXXV, Issue 22932, 10 January 1938, Page 10

TRADE TREATY

BRITAIN AND AMERICA INTENTION ANNOUNCED MAIN IDEAS SETTLED OPINION IN WASHINGTON By Telegraph—Press Association —Copyright (Received January 0, 5.5 p.m.) NEW YORK, Jan. 8 The Washington correspondent of the New York Times says America's intention to negotiate a trade agreement with the United Kingdom has been formally announced bv the Secretary of State, Mr. Cordell Hull. The United Kingdom will act on behalf of itself, Newfoundland and the colonial empire. It is believed that the broad principles of the proposed agreement have already been settled, and that all that remains is detailed discussion as to rates with British experts,, who will arrive early in February. The proposed agreement will be a felimax to two years of quiet, informal discussions and explorations. The correspondent concludes-: "It took time to break down the extreme protectionism in England. The process was aided by tho Dominions' scepticism regarding the Ottawa agreements, displayed at the Empire conference last year. "Officials hero ridicule the German fcnd other misgivings that an economic rapprochement means the beginning of the democracies' stand against the rest of the world. It is pointed out that President Roosevelt and Mr. Hull have worked for five years to promote world trade, and that British participation in such promotion is very natural.'' Mr. Hull has issued a list of 1000 products on which the United States; will consider granting concessions to the United Kingdom. He issued a warning, however, that .the list is only for consideration.

PARLEYS WITH ITALY LOAN FROM BRITAIN £50,000,000 SUGGESTED 1L DUCE MUST KEEP PEACE (Received January 9, 0.60 p.m.) LONDON. Jan. 9 The Sunday Graphic reports that Britain will shortly open negotiations for a trade treaty with Signor Musaolini. She is prepared to lend Italy £50,000,000 provided II Duce Tieeps the peace and abandons his anti-British' propaganda. It is hoped to divert Italian trade from' Germany and to secure a British ■hipping 'monopoly on the Empire routes on which the Italians are competing. - ■