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Supplies from these four countries contributed to a
large proportion of total imports.
But less than
4.67% said fr. Jordan. Mr. Nehmer retorted that it was
the same ratio as for cotton when the b.T.A. was
negotiated.
18.
Mr. Stewart pointed to Daily News Record
reports that imports into the U.S. of textiles had
increased by 30% over the period 1966 to 1968:
mately a 10% per annum growth.
approxi-
This rate of growth of
imports did not seem to him to be exceptional if compared
with the general increase in world trade and he noted that
imports of textiles were not rising as fast as imports of
all manufactured goods.
Mr. Nehmer said that in 1968
the growth of textile imports was greater than the growth
of all imports: he saw no reason to limit the comparison
to manufactured goods only. Mr. Jones pointed out that
1968 was an inflationary year and that inflation had sucked
in imports.
The U.S. Administration was now making considerable
efforts to control this inflation.
19.
Mr. Nehmer thought that the "inflationary" growth
contributed less than "real" growth to the high import
totals. He said that the U.S. Government was now
concerned to bring the Vietnam war to an end.
If
it succeeded this would mean reduced Government purchases
from the U.S. textile industry.
This combined with a
successful curb on inflation and a continued growth of
imports on the present scale held out very serious problems
/for
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