Evening star., 1955-01-10


with whom We trade to take SIM
liar steps in their relations with
each other.
The three-year extension Of
the Trade Agreements Act should
authorize. subject to the present
peril and escape clause proyi-
sions:
/. Reduction, through multi
lateral and reciprocal negotia-
tions, Of tariff rates on selected
commodities by not more than
i've per cent per year for three
years;
Q. Reductions. through multi
lateral and reciprocal negotia-
tions, of any tariff rates in ex-
cess Of so per cent to that level
over q three-year period; and
3. Reduction. by not more than
one half over 9 three-year peri
cd. OF tariff rates in effect on
January /, 1945. on articles
which are not now being inn
| ported or which are being inn
ported only in negligible guam
titles.
THE GENERAL AGREEMENT
ON TARIFFS AND TRADE
For approximately seven years
the United States has Coop
Grated with all the major trad
ing nations of the free world in
an effort to reduce trade bar
Iriers. The instrument Of coop
Grafton is the general agreement
on tariffs and trade. Through
this agreement the United States
has sought to carry out the pro-
visions and purpose Of the Trade
Agreements Act.
The United States and 33
other trading countries are now
reviewing the provisions Of the
agreement for the purpose Of
making it a simpler and more
effective instrument for the de-
velopment Of a sound system Of
/ world trade. When the current
negotiations on the revision of
the organizational provisions Of
the general agreement are sat-
isfactorily completed, the results
will be submitted to the Con-
gress for its approval.
CUSTOMS ADMINISTRATION
AND PROCEDURE
Considerable progress has
been made in freeing imports
from unnecessary customs ad-
ministrative burdens. Still more,
however. needs to be done in the
three areas | mentioned In my
message last year: Cd the SIM
pllfication of commodity defini.
tions. classification and rate
structures; ~ improvement in
standards for the valuation Of
| imports; and 80 further inn
provement for customs admins
| tration
! An important step toward SIM
| plification Of the tariff structure
was taken by the Congress last
| year with the passage of the
Customs Simplif1cation Act which
directs the Tariff Commission to
study the difficulties of commo-
dity classification of imports.
The interim report Of the Tariff
Commission to be made by next
March Is should help enable
the Congress to determine
whether further legislative steps
should then be taken or should
await submission of the final re-
port.
The uncertainties and con-
fusion arising from the complex
system of valuation on imported
articles cause unwarranted de-
lays in the determination Of Gus
toms duties. ! urge the Con-
gress to give favorable considera-
ton to legislation for remedyine
this situation.
The Improvement of customs
administration requires continu-
Gus effort. as the Congress rec
ognized by enacting the Custom
Simplification Acts Of 1858 and
1854 The Treasury Department
in its annual report to the Con-
gress will review the remaining
reasons for delay or difficulty in
processing imported articles
through customs and will pro-
pose still further technical
amendments to simplify customs
procedures.
| UNITED STATES
INVESTMENT ABROAD.
The whole free world needs
capital; America is its largest
source. In that light, the flow
OF capital abroad from our coun-
try must be stimulated and. IN