TRADE POLICY

Wairarapa Times-Age, 11 September 1941, Page 4

TRADE POLICY

BRITAIN & UNITED STATES AGREEMENT REACHED. MAINTENANCE OF EXPORTS. lEv Telegraph—Press Association—Copyrighti NEW YORK. September 9. The Washington correspondent of the “New York Times” says the United States and Britain have reached a comprehensive agreement under which Britain will accept drastic reductions in her export trade for the duration o; the war. The details are expected to be announced simultaneously in London and Washington tomorrow. The object, the correspondent says is to regulate competition between. American and British companies in the export market, and to remove the suspicion that the British have been using lend-lease materials to compete unfairly against American exporters in world markets. The United States Government rejected a theory that Britain's trade must be crippled before help is given and accepted the principle that the British must continue to be able t> maintain about two-thirds of their nor mal export trade in order to secure the essential dollar exchange for mat erials which cannot be purchased Iron, the United States. Mr John Biggers, a high official o the Office oi Production Management departed today by clipper for London to synchronise British and Americas defence production. He said that the rate of American defence productioi will be doubled in September am October.