(1)
(8)
(h)
play the situation slowly; | give no encouragement
to the U.S. to believe the U.K, would contemplate
export restraints;
emphasise the difficulties;
and be prepared to listen.
The Prime Minister, the Chancellor and the President
of the Board of Trade were briefed to speak on these
lines during the President's recent visit to London.
We do not know what transpired.
While in the E.E.C., the U.S. party had general
talks on this subject in which they were told that
the Community did not like quantitative restrictions
which would involve going back on what had been
agreed in the Kennedy Round. The Americans took
the line that they did not like q.r.s either and
therefore preferred a multi-lateral export limitation agreement (note: after references to 'voluntary'
arrangements - see (c) the U.S. line seemed to be
reverting to the C.T.A. concept extension idea -
see (a) of the election promise).
Our latest information indicates a growing awareness in the new U.S. Administration of the problems and
costs which could be involved in fulfilling the
President's election promise; and that the manner and substance of an eventual approach to exporting
countries is still undecided.
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