1
if we are right in thinking that total imports
represent little more than two years' increase in
production and employment. The United States
industry has invested a good deal more than the
British industry in new machinery in recent years,
but if the published figures. are any guide a high
proportion of the old brick factories in the Garetina
Carolinas are equipped with machinery made twenty
and even thirty years ago. The contrast between
new and old is evident in the United States as in
other countries.
There is one last point on which I would like
to comment. It has been claimed that the United
States is the only open market for textiles in the
world. The implication that our market was less
open to imports rather surprised us.
The only
restrictions we have on imports of textiles and
clothing outside the woven cotton field apply to
Eastern Europe and Japan. I am sure you will
realise that the restrictions which we maintain on
imports from Eastern Europe are part of the general problem of trading with Communist countries.
On the other hand, our restrictions on imports
from Japan are a legacy from the past which we
are anxious to get rid of as soon as practicable.
United States policy towards Japan stems from the
very generous attitude it took towards her problems
during the Occupation and I know you will not take
it amiss if I point out that your generosity has
been returned in part by increased trading opportu-
nities in Japan. My country has had other and no
less onerous burdens in the past twenty-five
years and the material reward in our case has
probably been less than in yours. Wilmort vast /quantities
Page 45Page 46
No comments yet.
Private notes are available after approval.