710.G Economic and Financial Problems/8: Telegram
The Acting Secretary of State to the Chairman of the American Delegation (Hull)
72. Following is paraphrase of President’s replies at press conference today to questions concerning Secretary’s economic proposal and plans to increase foreign trade: Correspondents know whole story. If we can unload our surplus it will aid agricultural surplus problem and possibly other surpluses including cattle. Asked if he thought time was approaching when tariff reductions would be advisable or practicable, President said for background, this could be objective and yet not feel particularly optimistic about getting very far with it. Under present world conditions we are not much in sight of that except through bilateral treaties which might be extended to include other countries. Any general tariff agreement among nations has pretty slim prospect for next few months. Asked how far we could go in bilateral treaties without encroaching on most favored nation clause, President asked if correspondents had data on treaty with Colombia.35 [Page 187] Upon learning that they had not, the President said that the treaty, which is practically finished, is reciprocal and contains clause that other nations wishing to do same thing were at liberty to do so. Asked if other countries could obtain same benefits only by granting similar concessions, President replied in affirmative.36
- Unperfected treaty signed December 15, vol. v, p. 217.↩
- Telegram No. 75, December 13, 6 p.m., added that reference in this sentence was to countries with which we have only conditional treaties. (710.G Economic and Financial Problems/9)↩