ARGENTINE STEP

New Zealand Herald, Volume LXXVI, Issue 23274, 17 February 1939, Page 11

ARGENTINE STEP

UNITED STATES TRADE

NO RECIPROCAL TREATY

CHILLED BEEF EMBABGO

MOVE IN RETALIATION

By Telegraph—Press Association—Copyright

(Received February 16, 7.30 p.m.) WASHINGTON. Feb. 16

What is interpreted as evidence of Argentinian resentment at the United States' failure to negotiate a reciprocal trade treaty and the continuation by the United States of the quarantine which prevents the entry of Argentinian beef into the United States, is seen in ,0a announcement by the Argentine Finance Ministry that imports from theUnited States would be increasingly curtailed in order to reduce the Argentine's adverse ytrade balance with the United States.

This step, along \pith the recent exchange restrictions which favour Britain, is expected seriously to reduce American sales to the Argentine.,

Further light is shed on the situation between the two countries by a paid advertisement appearing in a Buenos Aires newspaper over the signature of the Minister of Finance, pointing out that Argentina is dedicated to a policy of bilateral trade treaties and cannot therefore accept the United States proposal for a trade treaty of the multilateral, most - favoured - nations type. The advertisement also states that the Argentine will buy from the United States or any other goods equivalent to their purchases in Argentina minus the amount necessary to meet debt payments to each country. Mr. Arthur Beese, President of the National Association of Wool Manufacturers, addressing' the annual'meeting, said that although he had earlier believed a trade treaty's lowering raw wool duties either with Australia or Argentina, or both, might be effective in July, it was known difficulties had arisen in connection with the negotiations with both Australia and Argentina, and the indications were that there would not be a cut in wool duties before the end of the year, or even later.