§ 43. Mr. P. Williamsasked the President of the Board of Trade whether, under existing tariff arrangements as regards exports from this country, the 15 per cent. by which the United States Government is empowered to reduce import duties in cases where the present rate is under 50 per cent. can all be granted in one year or whether it is spread over several years; and whether such reduction is on the value of the article or a percentage reduction of the duty itself.
§ Mr. LowI understand that the maximum reduction permitted in these cases in any one year is 5 per cent. and that no part of any reduction may be made after 30th June, 1958. The reductions are calculated as percentages of the rates of duty in force on 1st January, 1955.
§ Mr. WilliamsIs my right hon. Friend aware that the maximum reduction for an article worth £100 with the duty at 40 per cent. would reduce its duty-paid price from £140 to £138? What advantage does the United Kingdom get in recompense for this change in the United States regulations?
§ Mr. LowWe shall take account of these limitations during negotiations, but it is worth while remembering that even a few pounds may be of importance in competitive markets.