§ Mr. Austin MitchellTo ask the President of the Board of Trade what estimate he has made of the likely effect on the United Kingdom balance of visible trade with the United States resulting from measures taken to eliminate the United States visible deficit. [9795]
§ Mr. OppenheimAny estimate of the likely effect on the UK balance of visible trade with the US resulting from as yet unspecified measures to eliminate the US visibles deficit is complex and dependant on a number of factors including movements in exchange rates, levels of demand in the two countries and price and income elasticities. Assessing the interaction of these and/or other factors could not be reliably undertaken except at disproportionate cost.