The Ottawa Agreement And India

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It is, for example, an open questioij whether under the new U. S. A. policy of uncondi- tional extension, of reductians of customs duties to all countries not discriminating against U. S. A. the preferential agreements within the Empire will be interpreted as being discriminating or not. It again depends on what you interpret as "retaliation." Was 42 the action of Japan in stopping imports of Indian raw cotton retaliatory in character or not? And will Japan in the next renewal of the trade agre...ement put up with such a'high measure of preference in favour of U. K. goods, especially cottons ?
As regards retaliation in general, it may well be said that today no retaliation ( except in such a case as the tariff-war between U. K. and the Irish Free State ) is to be noticed in the world. For, it is not a question of general easy conditions of trade to be made more difficult against a particular country.
It is rather the variety and difficulty of the general barriers that have to be discriminatingly lowered.


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