TRADE TREATY

Waikato Times, Volume 124, Issue 20733, 17 February 1939, Page 7

TRADE TREATY

FAILURE TO NEGOTIATE ARGENTINE RESENTMENT QUARANTINE OF BEEF (United Press Assn.—Elec. Tel. Copyright WASHINGTON, Feb. 16 What is interpreted as evidence of Argentinian resentment, at the United ire to neg cal trade treaty and the continuation by the United States of the quarantine which prevents the entry of Argentinian beef into the United States, is seen in an announcement by the Argentine Finance Ministry that imports from the United States would increasingly curtailed in order to reduce the Argentine’s adverse trade balance with the United States. This step, along with the recent exchange restrictions which favour Britain, is expected seriously to reduce American sales to the Argentine. Further light is shed on the situation between the two countries by a paid advertisement appearing in a Buenos Aires newspaper over the signature of th2 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 the multilateral, most-fav-oured-nations type. The advertisement also states that the Argentine will buy from the United States or any other country goods equivalent to their purchases in Argentine minus the amount necessary to meet debt payments to each country. Position of Wool Shipment Mr Arthur Beese, President of the National Association of Wool Manufacturers, addressing the annual meeting, said that although he had earlier believed a trade treaty lowering rawwool duties either with Australia or Argentina, or both, might be effective in July, it was known difficulties had arisen* in connection with the negotiations with both Australia and Argentina, and the indications were that there would not bfe a cut in wool duties before the end of the year, or even later. ___