Afterwar Economic Problems PRELIMINARY ANGLO-AMERICAN DISCUSSIONS

Manawatu Times, Volume 69, Issue 58, 11 March 1944, Page 5

Afterwar Economic Problems PRELIMINARY ANGLO-AMERICAN DISCUSSIONS

Received Friday, 11.10 p.m. NEW YORK, March 10. Preliminary discussions have been in progress for six months between the British and American Governments preparatory to an eventual international economic conference, says the New York Times’ Washington correspondent. British experts want to know whether the United States contemplates expanding its economy with low tariffs and consequently a larger world trade or a self-sufficient economy protected by high tariffs. The British indicated that for a low tariff policy they might be prepared to exchange the abolition of the British preferential system. It is understood against an American high tariff policy that they are prepared to fight with bilateral agreements which would grant a share of their great market for goods and raw materials only in return for a market for their own finished goods. In any event the British argue that to compensate for the dissipation of their foreign investments and the loss of a large part of revenue formerly derived from shipping, banking and insurance services, they must have a 50 per cent, increase in foreign trade. Britain also wants to know whether the United States will protect her synthetic rubber industry by a tariff or resume purchases from British Malaya.