EXCHANGE DUMPING DUTY

Taranaki Daily News, 2 April 1934, Page 7

EXCHANGE DUMPING DUTY

CANADA'S BUTTER IMPORTS

NfiW ZEALAND TRADE AFFECTED CALCULATION ON W BASIS. ©MgCIATtON Ob' Currencies. By Telegraph—Presd Assn—Copyright. , Ottawa, March 30. An Order-in-Council has been passed whereby the Oxchange dumping duty Will be applied to importations of New Zealand butter. The duty will not apply to butter already entered at the Customs on which duty is paid. . The Qrder-in-Cduncil makes New Zealand butter subject to the operation. Of the same p ‘inciple that applied When the United KingdOfn. currency was at a discount. The Order places the New Zealand pound On a par basis for the purposes of levying duty and collects ds a .currency dump the difference between par (4.86 2-3 dollars) and the depreciated value at present (4.11).

The right to do this is vested in the GoVemniOht by Article 6 of the Cana-dian-New Zealand treaty of 1932, where it is specifically set forth that either Government reserves the right to impose any Special' duty or tax provided this does not exceed the duty imposed on similar goods frorh Great Britain.