TRADE AGREEMENTS

Otago Daily Times, Issue 21940, 29 April 1933, Page 9

TRADE AGREEMENTS

BRITAIN AND ARGENTINA ALL POINTS AGREED ON (British Official Wireless.} (United Press Association.) (By Electric Telegraph—Copyright.) RUGBY, April 27. Mr Walter Runciman (President of the Board of Trade) announced in the House of Commons that agreement on all points of principle had been reached with Argentina, and a treaty is being drafted which is expected to be signed in a few days. BRITAIN AND DENMARK. “A GOOD BARGAIN.” (British Official Wireless.) RUGBY, April 27. The Anglo-Danish agreement was well received by the Copeubagen press. English newspapers also consider it a good bargain. The Times regards it as a good omen that it should coincide so closely with the renewal of efforts to expedite the World Conference. It says that the safe and only practical method of advance is for each country to survey its resources and needs and to determine what it must produce for itself and what to import from others, and to follow with agreements for complimentary exchanges. So far from being an obstacle to the success of the conference, the agreement may well serve as a model.

BRITAIN AND GERMANY. TERMS OF AGREEMENT. (British Official Wireless.) RUGBY, April 27. A White Paper to-night gives the terms of the Anglo-German commercial relations agreement, on which the House of Commons will vote on Monday. The United Kingdom undertakes that German articles in a schedule attached shall not be subjected to duties higher than those specified, in return for which Germany will secure, first, licenses will be issued for the importation of not less than 180,000 tons of British coal every month; secondly, if the total coal, coal briquettes, and coke consumption in Germany exceeds by 1 per cent. 7,500,000 tons in any month licenses shall be issued the following month for importation from Britain of an equivalent percentage of over 180,000 tons. The schedule of German goods and the maximum duties specified contains: —Toys, 15 per cent.; certain musical instruments (including pianos), 20 per cent.; cheap clocks, 25 per cent; varieties and cheap jewellery, 25, per cent.; domestic hollow-ware, 20 per cent.;, and safety razor blades, 20 per cent., plus Is gross.

TARIFF AS A WEAPON. LONDON, April 27. Mr Runciman, speaking at the British Chamber of Commerce dinner, said that the Danish and other agreements did not exhaust Britain’s ability to use the tariff as a weapon to reduce tariffs. England was recognised as a creditor and international payments must be made for goods and services. Anglo-American collaboration was based on recognition of this. BRITAIN’S MEAT IMPORTS. LONDON, April 27. In the House of Commons Mr Runciman, in answer to a question, admitted that Britain’s imports of beef, mutton, and lamb in the past quarter had exceeded those of the first quarter of 1932 by 70,000 cwt. He said this was largely due to heavy arrivals of Australian and New Zealand mutton and lamb. The undertakings of those dominions to limit shipments applied to 1933 as a whole. Tlley were not quarterly. The restrictions under the Ottawa agreements began on January 1, besides which there was a voluntary agreement to reduce chilled beef exports to Britain in the first quarter of 1933 by 10 per cent, of the total admissible under the Ottawa agreements. LORD BEAVERBROOK’S VIEWS. LONDON, April 27. Lord Beaverbrook states: “The Danish agreement is wicked. The supporters of an Empire policy put the Government in power.. We have been betrayed and sold to foreigners.”

MAIN POINTS OF AGREEMENT LONDON, April 28. (Received April 28, at 11 p.m.) The Daily Telegraph understands that the main points of the Anglo-Argentine agreement are: —(1) That Argentine float a loan of £10,000,000 in London for the purpose of releasing British deposits that are “frozen” in the Argentine as a result of the exchange restrictions; (2) a reduction of the Argentine duties on 280 items, including motor vehicles, agricultural machinery and textiles, in return for which Argentina will secure stable markets for its chilled frozen meat, subject to the interests of the dominions and maintenance of the price level. The agreement will operate for three years.