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Was there any suggestion that they might buy those
elsewhere if import controls are put on textiles?
SECRETARY STANS:
NO.
Japanese purchases of
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agricultural products have fairly well leveled off in the
last few years at slightly under $1 billion.
We met with the Minister of Agriculture and
suggested various ways in which this figure could be im-
proved and we have some reason to bleieve that they will
give consideration to increasing their purchases of some
American farm products.
There was no threat that they would take their
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QUESTION: Mr. Secretary, while you were in Japan
the Export-Import Bank announced here a loan for Japan
under PL 48 to purchase a certain amount of cotton and
that announcement was withdrawn and it happened while you
were in Japan.
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Did that have anything to do with your negotiations
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there?
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SECRETARY STANS: No, that had nothing to do with our
21 negotiations and I didn't even hear about it until I got back.
I suggest that Henry Kearns of the Ex-Im be asked
I think he has an answer for it. He and I
that question.
discussed the matter of their credit on a number of occasions
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and I think he can give you the story on it.
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