The Ambassador in Argentina ( Weddell ) to the Secretary of State
[Received 8:08 p.m.]
130. My despatch 1203, June 1, regarding exchange restrictions. I have received a note from the Finance Minister in reply to my letter dated May 2939 (see enclosure 2 of above despatch) stating that the Ministry of Finance has decided to amplify list of articles of United States origin for which previous exchange permits have hitherto been granted by 50 categories; and that this procedure “will be maintained as long as interchange with the United States permits, this not preventing the study of its further amplification as soon as permitted by the increase of Argentine exports to the United States.” A copy of the note and the list enumerating the categories affected were transmitted in last Saturday’s pouch with my despatch 1236 of June 19.40[Page 212]
The Embassy is now preparing a study of the practical effect of the Ministry’s statement to be forwarded shortly to the Department. Meanwhile, it appears at first glance that the list is somewhat padded, some of the items being of small commercial consequence. Some 15 items, however, such as trucks, copper, industrial chemicals, railroad and street railway equipment, airplanes, pharmaceutical products, radio tubes, general hardware, machinery, and pumps, et cetera, appear to be valuable concessions and to place American manufacturers in an equitable competitive position which may mean increased business of some millions of dollars this year.