Office of the Historian

76. Minutes of the 77th Meeting of the Council on Foreign Economic Policy0

July 29, 1958.1

[Here follow a list of participants and discussion of an unrelated matter.]

[Page 176]

II. CFEP 574—International Lead and Zinc Problems

1.
The Council on Foreign Economic Policy considered a proposal by the Department of State that an exception be made to the CFEP policy on international commodity agreements to permit the Department of State to:
a.
Participate in international discussions of lead and zinc problems in the United Nations or in other appropriate forums.
b.
Provided such discussions indicate it to be desirable, participate in an international study group on lead and zinc for the purpose of studying trends in supply and demand and considering measures which might be adopted by governments to achieve a state of approximate balance between the two.
c.
Provided such discussions indicate it to be desirable, participate in the drafting of a possible intergovernmental commodity agreement which would be subject to approval by each participating government. Insofar as the United States is concerned, this would require Congressional approval.
2.
The basis for this proposal is contained in CFEP 574/1 dated July 17, 1958.2
3.
It was agreed by the Council that the United States should participate in the international discussions on lead and zinc problems and, provided such discussions indicated it to be desirable, participate in an international study group on lead and zinc for the purposes stated in paragraph 1b above.
4.
There was a difference of opinion within the Council as to the desirability of the United States participating in the drafting of a possible international lead and zinc commodity agreement (paragraph 1c above) and several suggestions were made for changing this recommendation.
5.
The Chairman therefore requested the Department of State to confer with the Departments of Treasury and Interior and resubmit its recommendations on this matter to the CFEP at an early date in the light of the CFEP discussions.

[Here follows discussion of an unrelated matter.]

Paul H. Cullen
Lt. Col., USA
Secretary
  1. Source: Eisenhower Library, CFEP Records, Office Series, Council Minutes (1). Confidential.↩
  2. The meeting was held at the Executive Office Building.↩
  3. See Document 73.↩