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}
G.F. 323
1
CONFIDENTIAL
9
15.
Mr. Nehmer said the U.S. Government's inter-
pretation of Article 1 of the C.T.A. was somewhat
different.
Although the wording was to the effect
that the C.T.A. was not to be taken as a precedent for
action in other fields, the U.S. Government did not
believe that this implied a commitment by participating
countries not to proceed with action in other fields.
16.
Mr. Jordan did not think the fact that the
inport/consumption ratio for man made and wool fibre
textiles was now similar to the ratio for cotton when
the Long Term Arrangement was negotiated, was of
particular significance. What was significant was
the fact that the ratio for the first eight months of
1969 was 4.6% and since this related to imports from
all sources, the contribution to the penetration by
low cost suppliers must be less than 4.6%. It was
therefore difficult for Hong Kong, as only one of these
so called low cost suppliers, to accept that its exports
were causing injury.
17.
Mr. Nehmer said that for the year ending
July 1969 total imports of m.m.f. textiles were 1,700
million square yards: of this total 560 million square
yards came from Japan, 200 million square yards came
from Taiwan, 185 million square yards came from South
Korea, and 124 million square yards came from Hong Kong.
/Supplies
CONFIDENTIAL