THE ARGENTINE AGREEMENT

Wanganui Chronicle, Volume 76, Issue 108, 10 May 1933, Page 10

THE ARGENTINE AGREEMENT

The general trend of the proposal is to preserve the status quo us made at Ottawa, and to expand the sales of British, industry. The greater tho export of manufactures from Britain the better will be the general position for tho whole Empire, but in this field the gains arc by no means decisive at this stage. So far no tariff concessions have been secured from Argun tina. These are postponed for inclusion in a supplementary agreement, but if it is not concluded by August 1 the whole convention may bo terminated at a month’s notice. Tariff concessions, however, are vital to Britain. Nothing will be gained but much will be lost, if tho factories do not obtain an increase in trade that is commensurate with -what is virtually a guarantee of a fixed share in the meat market. It is here that the dangers of quotas or quantitative restrictions become evident. The restriction of the moment may well become a liberal concession in future years when gluts are no longer a problem. There is some ground for anxiety in this country that the agreement foreshadows a direct restraint upon the normal expansion o! the meat trade. The Ottawa agree u ent has only two and a-ha]f years to run. Its renewal on comparable terms will certainly depend upon the extent to which the Dominion In creases its purchases from Great Bri tain. —Now Zealand Herald.