+
of an international division of labour and reduce the results
of economic exchanges. The Federal Government is therefore also
trying gradually to reduce the export restrictions imposed by
agreements which exist with some countries that have low price
levels. On 18 March, 1969, the Federal Government again passed
resolutions to this effect (Hong Kong).
b) If the U.S.A. agreed on restrictions on the export of textiles,
they would create a dangerous precedent over the demand for similar
protection from other American industries (e.g. for leather
products and motor vehicles). Above all, it would be feared that
this trade policy in the U.S.A. would cause a world-wide
protectionist chain-reaction of voluntary restraint on exports.
c) Even though voluntary restraint on exports would be agreed
under the G.A.T.T., the economic relations in the world would
partly relapse into bilateralism. The introduction of politics
into international trade - a development which is unwelcome from
the economic point of view - could not be avoided.
3. Legal Objections
Voluntary restraint of exports under a government guarantee are
hardly compatible with the German Law on Foreign Trade
("Aussenwirtschaftsgesetz
-
AWG"). Freedom of export forms the
Hence, an
main principle of the German Law on Foreign Trade. The exceptions
which have hitherto been made would not suffice for an official
quantitative restriction on the export of certain goods.
amendment af the law would probably become inevitable.
there would be certain legal objections under the E.E.C. Treaty,
At present, these are being examined by the E.E.C. Commission.
4. Objections from the Practical Point of View
Moreover,
Voluntary restraints of exports can only become effective if the
producers and exporters concerned can effectively be subjected to