TRADE AGREEMENT

Wanganui Chronicle, Volume 79, Issue 266, 13 November 1935, Page 9

TRADE AGREEMENT

CANADA AND AMERICA I FACILITATING FLOW OF TRADE I (By Teiegraph—Prese Association— Copyright! deceived Nov. 12, 9.35 p.m. WASHINGTON, Nov. 11. President Roosevelt took occasion at his Armistice Dav address at the tomb of the Unknown .Soldier at the Ailington Cemetery, to announce that a reciprocal trade agreement had been coneluded with Canada, which announeei'ent «a» made simultaneously by Mr Mai-Kenzie King in Canada. rhe President hailed the treaty as another tie of friendship between the .v. .> lii-toricallv friendly neighbours. [ The treaty, the draft of which has not : yet been made public, will be signed I ujth.n a few days at Washington and Ottawa. I he genera] outline of the treaty, ac- - »bsert • - at Washir gton who have followed the protracted negotiations, will be an agreement on ' anada’s part to stabilise her whole tariff sy.-tem. including an elimination pr<«*edure whereby duties on United States import- will be raised and lowered almost at will. Jn addition, Canada will grant outright tariff concessions in some form or other to several hundred exportable United States commodities including, it is thought, coal, petroleum, iron, steel, machinery, automobiles and parts, radios, seasonal and dried fruits, grazing cattle and other items of less importance. ; In return it is believed the United l State, wih maintain on the free list I three main items of Canadian exports, i namely: Newsprint, pulpwood, and j woo-i pulp, and in addition, will grant . a liberal reduction in the duty on whisky and possibly a lesser reduction on rough timber, seed potatoes, nickel, dairy product* and certain raw products. It is indicated that the administration leaders hold high hopes that the new treaty will greatly accelerate the flow of trade between the two countries, which dropped from 1.400,000,000 dollars in 1929 to about half a billion ; in recent years.