§ Mr. Kilfedderasked the Secretary of State for Trade what is the Government's estimate of the value to United States manufacturers of textile and clothing of hidden subsidies covering power and export credits and the unfair competition which it gives to British companies.
§ Mr. ParkinsonWe estimate that the advantage to United States manufacturers of synthetic yarns and fibres as a result of the United States energy feedstock price differential, is in the range of 8 to 16 per cent. of their selling price. It would be less for other synthetic textile products Regarding export credits, items such as textiles and clothing are generally exported on a cash basis, or on a very short-time credit basis, at commercial rates. My Department has no evidence that the United States is offering any hidden or open subsidy through export credits in this respect.