Thus, the economic weapon again Japan has largely been lost, and the effect of complete embargo would be not very great from a practical standpoint. Effect on the United States of a Loss of Imports From Japan. As previously mentioned, exports and imports are approaching a balance. If exports cease, imports will also cease, as Japan would not have the means to continue her purchases. The same effect would be produced if we stopped buying from Japan, but attempted to continue our exports.
Silk is processed here.
It is used in industry and for certain munitions, particularly powderbags. The armed services have large stocks of raw silk, and could get along without further imports, though silk substitutes are not entirely satisfactory. Doubtless industry could manage without silk, although the lack of it would cause a considerable dislocation of labor now employed in the industry. The effect of stopping the purchase of silk would also have an adverse psychological reaction on the part of Japan, though possibly not so great as would an export embargo. The effect of an embargo would hamper future Japanese war effort, though not immediately, and not decisively.