The Chargé in the Soviet Union (Grummon) to the Secretary of State
[Received July 31—4:18 p.m.]
417. My 414, July 30, 11 a.m. At a meeting with Mikoyan at 9:00 o’clock this evening the Commissar agreed without discussion to renew the current commercial agreement with a minimum guarantee of Soviet purchases of $40,000,000 and without the insertion of the phrase “unless superseded by a more comprehensive commercial agreement” since Mikoyan said that the Soviet Government would not pursue further its request for tariff reductions. It has been agreed that the various notes giving form to the renewal of the agreement will be exchanged on August 2nd. I should appreciate being informed as to the time and date when the announcement of the extension of the agreement will be made in Washington so as to give [it?] out simultaneously to American correspondents here.