The Secretary of State to the Ambassador in Brazil (Caffery)
278. Your 425, August 26, 3 p.m.44 Steel Commission has had a number of conversations with Jesse Jones and Warren Pierson, and with various private companies. Delay in definite action is due principally to fact that Congress has not yet passed Bill authorizing 500 million dollar increase for Export-Import Bank and removing 20 million dollar limitation. The Department and Jones and Pierson are making every effort to push Bill and it is expected it will be acted upon by the Senate soon. If it is enacted, negotiations should proceed rapidly towards definite agreement.
- Not printed; the Ambassador in Brazil asked for information as to the progress of steel plant negotiations (832.6511/133).↩