TRADE AGREEMENTS

Wanganui Chronicle, Volume 79, Issue 284, 4 December 1935, Page 7

TRADE AGREEMENTS

COMPLETED BY AMERICA CANADA AND BRAZIL ROOSEVELT’S ADVISER RESIGNS [By Telegraph—Press Association —Copyright] Received Dee. 3, 9.50 p.m. WASHINGTON, Dec. 3. Mr. Roosevelt to-day proclaimed two of the most important trade treaties thus far negotiated under the reciprocal tariff law, namely those with Brazil and Canada, which become effective immediately. The full agreement awaits final ratification at Ottawa. In the Brazilian treaty most of the native Brazilian products, as coffee, cocoa and nuts, are kept on the free list of tariffs slashed, while America is granted duty reductions on many items of manufacture in accordance with most-favoured-nation 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 most-’favou red-nation policy, .Mr. George Peek, Mr. Roosevelt ’s special trade adviser and president of the Federal export and import banks, resigned both offices because of disagreement with the administration trade policies. He and Mr. Hull have often clashed on the fav-oured-nation policy, and he decided Io resign when it became apparent that his opponent’s policies had the full support of the president. Mr. Peek is considered a political power among th 6 mid-western farmers, and it is rumoured that he may lead the opposition not only to Mr. Roosevelt’s trade, but agricultural policies, in the 1936 elections.