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May 1953

June 1953

Calendar of Events
Dr. A.L.Kirkpatrick to Speak on International Trade
League and U.S. Foreign Trade
What Is Unit Organization?
General Aspects of International Trade in the U.S.
Charter News
Resignation
Voters Service Views
Membership Committee Meets

General Aspects of International Trade in the U.S.

There is a "Dollar Gap" of $5 Billion a year between imports and exports in the U.S. The foreign aid voted by Congress since World War II has just about equaled the $ gap between our exports and imports. The need for our help still continues. Shall we fill the gap by trade or by aid?

In order to bring our trade into balance there are at least three ways open:

  1. Reduced exports

  2. Aid

  3. Increased imports

This seems on the whole the best solution, although not a simple one.

How can we increase U.S. imports?

  1. Lower tariffs

    In 1934 the Reciprocal Trades Agreements Act was enacted by Congress with the purpose of raising world trade by lowering trade barriers. This act has its limitations. It is bilateral in scope and it works on a reciprocal basis only. Feeling the need for an agreement of wider scope, 33 countries, including the United States, in 1947 agreed on a GENERAL AGRELUTT CN TARIFFS AND TRADE (G.A.T.T.) on a provisional basis hoping to establish soon the International Trade Organization under United Nations sponsorship. The U.S. Congress failed to ratify the charter of the International Trade Organization (I.T.0.).

  2. Keep existing tariffs from rising.

  3. Simplify tariff rates and customs procedures.

Since the White House plans to ask for a one year extension of the Reciprocal Trade Agreements Act and a commission to re-study the whole field, let us all watch the newspapers for further developments.

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