END OF TARIFF DISPUTE

Timaru Herald, Volume CXLII, Issue 20611, 28 December 1936, Page 7

END OF TARIFF DISPUTE

JAPAN TO BUY WOOL IN AUSTRALIA United Press Association—By Electric Telegraph-Copyright (Received December 27, 6.30 p.m.) TOKIO, December 26. The Tariff Commission has repealed the anti-Australian safeguarding law, preventing imports, from January 1.

TERMS OF SETTLEMENT MODIFIED RESTRICTIONS ACCEPTED United Press Association—By Electric Telegraph —Copyright (Received December 27, 11.18 p.m.) MELBOURNE, December 27. A settlement of the Japanese trade dispute was announced to-day by Sir Henry Gallett (Minister in Charge of Treaties) who said that an agreement for 18 months had been reached by which Japan has agreed to restrict her export to Australia of cotton piecegoods and artificial silk, excluding calico for bagmaking, to 102,500,000 square yards. Japan is issuing permits for the import of 800,000 bales of Australian wool in the 18 months period beginning from January 1, at the rate of 533,004 bales a year. Both countries will remove the prohibitions now operating. Australia will reduce the duties on cotton piecegoods to the 1934 level.

NORMAL RELATIONS APPROACHING United Press Association—By Electric Telegraph—Copyright (Received December 27, 11.56 p.m.) TOKIO, December 27. The Domei News Agency says that Mr Arlta informed the Cabinet that complete accord with Australia had been reached and consequently each was lifting the trade restrictions against the other by the end of the year and normal relations would be restored on January 1. The news of the impending agreement boomed the rayon, cotton and yam markets throughout Japan. Prices rose so rapidly that Fukui, the big rayon centre, that the market suspended transactions. “The Chugais-Hoggo” says that Japanese millers view the resumption of the Australian trade relations with mixed feelings, because while they were glad to regain Australian wheat, whose quality and price were satisfactory, they were alarmed at the prospect of Manchuria again importing Australian flour and wheat. Presumably Manchukuo will also now lift the embargo.