TNAG-0147-FCO40-183-Exports-of-textiles-to-United-States-of-America-1969 — Page 47

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Supplies from these four countries contributed to a

large proportion of total imports. But less than

4.6% said Mr. Jordan. Mr. Nehmer retorted that it was

the same ratio as for cotton when the L.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: approxi-

nately a 10% per annum growth. This rate of growth of

imports did not seem to him to be exceptional and he

noted that imports of textiles were not rising at the

same rate 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.

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

inports on the present scale held out very serious problems

/for

CONFIDENTIAL