BRITAIN MAY BENEFIT

Taranaki Daily News, 15 July 1930, Page 11

BRITAIN MAY BENEFIT

REACTION FROM AMERICA.;

SELFISH PROTECTION-'’

Britain may benefit in Continental trade as the result of : the American Tariff, says the Manchester . Guardian. There is a violent Continental re- . action against American goods, of which British and other manufacturers may be expected to take advantage. On the other hand, another benefit, which may arise out of tho -situation is that the endeavours. of the League to' organise concerted limitation and reduction of tariffs are beginning to be taken more seriously now that tho results of irresponsible' and selfish Protectionism threatch to become - forcibly felt. • - " .■5l. " J A' ; >A considerable., agitation nas been, provoked in Switzerland by the proposed increases in the United States tariff’, which would seriously affect Swiss industries, especially the watchmaking and cotton trades. Meetings of protest have been held by „tho Geneva and other chambers of commerce, and the . Swiss Federal Government < has djs- • cussed the situation and decided to‘instruct the Swiss Minister at Washington to lodge a protest. There .is a general demand for concerted action onthe part of European Powers if tho hew American tariff becomes law. The watch and clock industry would be seriously injured by the proposed duties, which would bo equivalent to &n embargo. One-sixth part of the entire watchmaking output of Switzerland ia exported to the United States at present. Tho other, thipgs .which would bo principally affected are cheese, wool and silk goods, embroideries, leather ; and shoes and chemicals. The duty on embroidered goods under the new tariff would be increased from 75 per cent; to 93 per cent, of their value. Swiss exports to the United States amount at present to about £8,000,000 sterling, while the imports amount to £11,500,000 sterling. A leading article rn the Journal do Geneve deprecates tho suggestion that a campaign of retaliation should be undertaken, but it advocates action in common with other European nations. Everyone is beginning to examine the origin of the United States Tariff Bilk It originated, of course, in President Hoover’a proprises to tho. farmers, which, paradoxically, provided 1 big business “lobbyists” with their opportunity. |. i