§ 18. Mr. RAMSDENasked the President of the Board of Trade if he will state whether any countries, now imposing exchange restrictions, have expressed a desire to discuss the question of tariff reductions; the names of any such countries; and whether he will undertake that no tariff or other concession will be granted by His Majesty's Government to those countries unless the exchange restrictions arc removed or so amended that they cease to inflict injury on British trade?
§ Mr. RUNCIMANIn the following' countries, which have expressed a desire to enter into tariff negotiations with Great Britain, there is a greater or lesser degree of exchange control:
Argentina, Colombia, Costa Rica, Denmark, Estonia, Germany, Iceland, Latvia, Norway, Poland and Uruguay. In some cases however ordinary commercial transactions are not restricted.
In negotiating with these countries His Majesty's Government will certainly not overlook the question of exchange restrictions in endeavouring to secure the best. possible terms for British trade.
§ Mr. RAMSDENIs the right hon. Gentleman aware that it is useless to sell goods unless we can be paid for them?
§ Mr. RUNCIMANYes, Sir. That is rather a fundamental fact.