CANADA AND U.S.A.

Rotorua Morning Post, Volume 2, Issue 519, 1 May 1933, Page 5

CANADA AND U.S.A.

(Press Assn.-

' TRADE AGREEMENT ALMOST ' READY' TO BE ! SIGNED RECIPROCAL CONCESSIONS

-By Telegraph — Copyright).

Rec. April 30, 11.5 p.m. New York, April 29. The Herald Tribune Washington correspoiT.dent states' that America was virtually prepared to placd in writing,"a fecipfocal trade agreement 'with Canada ag Mr. Bennett left Washington this aftdrnooh. Mr. Roosevelt will only delay his tariff legislatidn on the passage ' of which. the agreement depends, be- ' cause legal and politieal complications as to Congressional control of tariff 1 revision makes immediate action im- ! possible. " While the President and the Prime Miriister were issuing a joint statement declaring their conversations had been mainly satisfactory, it was disclosed that the ground work for j a trade agreement between the two ! countries had been reached, although j there must be more discussions of ! commodities involved. Canada is chiefly interested in obI taining tariff reductions from the I United States on timber, copper, oil, i potatoes, wheat, dairy products and i fish. The Americans have asked for cessation of Canadian dumping taxes and the lowering of tariffs on American manufaetured products, machinery, electrical equipment, chemicals and automobiles. It is understood that Mr. Bennett and Mr. Roosevelt specifically discussed the lowering of gold coverage behind the curreneies of the two conntries and stabilising on lower I levels, bi-metallism not being an impossibility.