TNAG-0147-FCO40-183-Exports-of-textiles-to-United-States-of-America-1969 — Page 49

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As for shortage of productive capacity, if this was in

fact the case, the U.S. Government would be ready, as

it had in the past, to make special arrangements to

allow imports to fill demand which U.S. producers could

not take up.

23.

Referring back to earlier remarks that there

had been a falling off in the rate of growth of m.m.f.

and wool imports since 1966, Mr. Bodner pointed out

that the fall off had been principally due to decreases

in the import of yarn.

24.

Following on from this, Mr. Schiff agreed

that the growth had moderated but thought that 1966

could not be taken as a typical base year because this

had been a year of major war effort in Vietnam which

had led to increased demand in the U.S. market which

in turn had sucked in huge imports. A drop in the growth

of imports based on an atypical year tended to distort

the picture. Mr. Stewart pointed out that distortions

occurred in many fields but tended to compensate one

another.

25.

Mr. Nehmer said that the picture was one of

a rising import/consumption ratio for man made and wool

fibre textiles. He again stated that the U.S. Government

was seeking only a moderation in the rate of growth.

An instrument for man made and wool fibre textiles

/similar

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