TRADE CONTENTION

Wairarapa Times-Age, 17 February 1939, Page 5

TRADE CONTENTION

ACTION BV ARGENTINA REDUCTION IN IMPORTS FROM U.S.A. IN ORDER TO REDUCE ADVERSE BALANCE. By Telegraph—Press Association— Copyright. WASHINGTON, February 17. What is interpreted as evidence of Argentine resentment at the United States of America’s failure to negotiate a reciprocal trade treaty and the continuation by the United States of a quarantine which prevents the entry of Argentine beef into the United States is seen in an announcement by the Argentine Finance Ministry that imports from the United States will be increasingly curtailed in order to reduce Argentina’s adverse trade balance with the United States. This step, along with the recent exchange restrictions in favour of Britain, is expected seriously to reduce American sales to Argentina. Further light in the situation existing between the two countries is shed in a paid advertisement appearing in a Buenos Aires newspaper under the signature of the Minister of Finance, pointing out that Argentina is dedicated to a policy of bilateral trade treaties and cannot, therefore, accept the United States’ proposal for a trade treaty of a multilateral most-favoured nation type. The advertisement also states that Argentina will buy from the United States or any other country goods equivalent to their purchases in Argentina, minus the amount necessary to meet debt payments to each country.