LONDON: A new pattern of world trade affecting 33 nations was announced early today [Oct 10]. These nations, with a trade estimated at over 80 per cent of the world’s total, thrashed out the new pattern in four and a half months of tariff-breaking talks at Annecy, south-eastern France, between April 8 and Aug 2.

The results, published simultaneously today in the capitals of all the countries concerned, name about 5,000 items in new tariff lists. The American concessions — vitally important in a dollar-hungry world — include both reductions of some present barriers and guarantees against the raising of others. They involve about 250 million dollars worth of imports. Trade officials in Washington said last night (Sunday) that President Truman and the American State Department were preparing for new world tariff-cuffing negotiations next year. They were studying likely commodities on which Britain would seek tariff concessions.

The Annecy Conference was held by the 23 countries belonging to the General Agreement on Trade and Tariffs (GATT), who first agreed to extensive tariff concessions two years ago in Geneva. Pakistan is one of them. — News agencies

Published in Dawn, December 10th, 2024