HC Deb 09 March 1955 vol 538 c61W
130. Mr. Bence

asked the Secretary of State for Foreign Affairs what classes of cargoes are subject to the United States cargo rule which compels 50 per cent. of cargoes to Britain to be carried in United States ships.

Mr. Turton

The United States legislation on this subject applies to any transactions where the United States Government obtains the commodity for its own account or furnishes it for account of Her Majesty's Government without provision for reimbursement, or where the United States Government advances funds or credits, or guarantees the convertibility of foreign currencies, in connection with the furnishing of such commodity.