Mel, Nov. 26, the announcement that Great fpritain and. the United Sates will shortly negotiate a new trade treaty has been received in. Australia, more favourably than would have seemed possible last year. There is a general Eppreciation "of the advantages loser ce-operation between" the Empire and the United Stotes, both faethe epapemic and pal iit Government's "trade diversion eres, and the application of the
policy to the United. States wat Fegarded asa. regrotiable necessity.
The Australian' Government has repeatedly declared ite readiness 10 feter into new negotiations with the United States, and would undoubtedly offer material concessions in return for a reduction of the high American fant on Australian wool and other Jcurtaliment of Australian exports to [Great Britain involved in the _projected treaty with the United States would be innly opposed, The Ottawa Agreement, however, can only be varied by mutual consent, and it is aanderstood that Australian delegates to the Imperial Conference were sured that their interests would not bbe sacrifled in any readjustment of Anglo-American trade, 'A prompt statement' to this effect by the Prime Minister, Mr. Lyons, Jscemé to have alleyed any suspicions [that the new. trade treaty involved a threat to the Ottawa" system of Himperial preference and, while the complexity of the problem may. necessitate prolonged negotiations, Australia seems unlikely to raise fany serious diiculties, Meanwhile, fan official statement that projected faction to counter unfair competition [by American shipping in the Pacific has been postponed indicates a willingness to contribute to the to success of the negotiations
Text read from the printed page and cleaned; old type leaves the occasional error.