The Department of State to the Argentine Embassy3
The memorandum submitted by the Embassy of Argentina on October 5, 1933,4 outlines the desires of the Argentine Government regarding modifications in the customs treatment of Argentine products [Page 511]in the United States. Studies have been made of these proposals by the competent agencies of this Government and the conclusion has been reached that it will probably be possible to go sufficiently far in meeting the desires of the Argentine Government to permit the negotiation of a trade agreement which will be mutually advantageous to the two countries.
It is regretted that a reply to the Embassy’s memorandum of October 5 has been delayed so long. The delay has seemed unavoidable owing to the necessity of moving forward upon a new commercial policy, securing the necessary legislation to make this possible, formulating a comprehensive program based upon this policy and studying the special problems of Argentine trade in the light of this new program.
The competitive nature of the Argentine export trade as compared with production in the United States renders the problems raised by a trade agreement between the two countries more complex and difficult than is the case with many other countries; and it therefore seems wise to defer the commencing of active negotiation until additional time can be given to study every phase of the situation in the greatest possible detail in order to make certain of a favorable outcome to the negotiations.