§ 1. Mr. Knoxasked the Secretary of State for Trade if he will make a statement on the effect on United Kingdom trade of the United States Administration's stated determination to maintain the open-trading system.
§ The Secretary of State for Trade (Mr. John Biffen)I welcome the recent confirmation by United States Trade representative Brock that the policy of the United States Administration will be to work for a more liberalised trading system. The maintenance of open trade between the European Community and the United States and the avoidance of a slide into protectionism will be of advantage to United Kingdom trading prospects.
§ Mr. KnoxDoes my right hon. Friend agree that any major interference with the freedom of world trade can only be damaging to the British economy since Britain is so dependent on importing a high proportion of foodstuffs and raw materials?
§ Mr. BiffenThat is undoubtedly true, bearing in mind the factor mentioned by my hon. Friend—namely, that about 28 per cent. of our gross domestic product is represented by exports.