Evening star., 1939-08-23
Argentina
Continued From First Page.)

far more than it has been buying.
The favored customers of Argentina
are England, Italy and Germany.
In the 15-year period from 1894
to 1888 United States exports to
Argentina exceeded imports from
that country by $486, 900, ,00O In 1898
it was this country's most important
Western Hemisphere market except
Canada. Exports from the United
States to Argentina totaled $685.
5000.
POtentialities Great.
The State Department explained
that Argentina is, moreover, "a mar
ket of great potentialities, in view
Of the countrys practically unlimited
capacity for economic development
The trade agreement is designed to
place American trade with Argen-
tina on "a footing of full equality
with that of our European competi-
tors"
Acting Secretary Welles said: "Our
trade with Argentina has suffered
in recent years for lack of trade
agreement" and the trade Of GER
tain European countries with Argen-
tina has been developing at our ex-
pense under the influence of their
commercial agreements with Argen-
tina"
The State Department fixed pub
lie hearings for october 16. and
made October the closing date for
submission of briefs and for appli-
cations to be heard at the public
hearings.
Held of Great Importance.
News of the success of the pre-
liminary conversations with Argen-
tina was viewed here as of particular
Importance because of the activities
of Germans and Italians in the
South American Republic.
Representatives of the totalitarian
governments have invaded the Ar
gentine markets and established
trade relations based on the barter
system at the expense of the Amer
ican producer.
Meanwhile, the Roosevelt admin
istration, which hopes to be able to
preserve Americas neutrality in the
event of European war, has been
building its fences in South Amer
lea by continuation of its good
neighbor" policy.
Treaties in Effect.
The United States has trade
agreements with 10 Latin American
nations-Cuba, Brazil, Haiti, Co.
lumbia, Honduras, Nicaragua, Guate-
mala, Costa Rica, Ell Salvador and
Ecuador. 1t also has under negoti-
alton an agreement with Venezuela
and new pact with Cuba.
With regard to exchange control
in Argentina, which has seriously
hindered American exports to that
country, the State Department said:
Imports into Argentina from Ger
tain countries, with which Argen-
tina normally has an export balance
of trade, have in recent years re-
ceived more favorable exchange
treatment than have imports from
the United States.
''The government of Argentina has
agreed that the proposed trade
agreement will be based upon the
principles of multilateral trade which
underlie the trade agreements pro-
gram of the United States.
'"The proposed trade agreement
will assure that imports into Ar
gentina from the United States will
be accorded any advantage given
competing imports from any other
source and that any governmental
regulation of imports into Argentina
will be applied in -discrimina-
tory manner"
Ambassador Pleased.
After the State Department an
nouncement, Felipe A. Espil, the
Argentine Ambassador, said broad
economic understanding" was es-
sential between his country and the
United States in order that friendly
political relations might be gen
uine and lasting"
In formal statement, he ex-
pressed pleasure over this Govern
ment's announcement of intention
to negotiate trade agreement with
Argentina.
Ambassador Espil said that despite
difficulties presented by alleged
similarity" of agriculture produc-
ton of the two countries, he was
confident that I'VE shall succeed
in concluding a treaty satisfactory
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