TRADE TREATIES

Timaru Herald, Volume CXL, Issue 20282, 4 December 1935, Page 9

TRADE TREATIES

OUTLINE OF AMERICA’S PLANS NEW UNDERSTANDING WITH CANADA United Press Association—By Electric Telegraph—Copyright (Received December 3, 7.0 p.m.) WASHINGTON, December 3. President Roosevelt to-day proclaimed the two most important trade treaties so far negotiated under the reciprocal tariff law, namely, those with Brazil and Canada, which became effective to-day though full agreement awaits the final ratification of Ottawa. In the Brazilian treaty, most native Brazilian products, such as coffee, cocoa and nuts, are kept on the free list or tariffs have been slashed, while America has granted duty reductions on mans' items of manufacture. In accordance with the mostfavoured national principle, American tariff reductions are extended to all nations having such treaty relations with America, of which Germany is a notable exception. Coincident with the Government’s reaffirmation of the most-favoured nation policy, Mr George Peek, President Roosevelt’s special trade adviser and president of the Federal Export and Import Banks, has resigned both offices because of a disagreement with the Administration’s trade policies. He and Senator Cordell Hull (Secretary of State) often clashed on the favoured-nation policy and he decided to resign when it became apparent to opponents that the policies had the full support of tile President. Mr Peek is considered a political power among Mid-Western farmers and It is rumoured that he may lead opposition not only to President Roosevelt’s trade but his agricultural policies in the 1936 elections.