The Lords
¶ Aired the issue of British tariffs in a pointed debate between Baron Arnold, free trade Labor peer, and the Earl Stanhope, Conservative champion of the National Government.
Unanswerably Baron Arnold pointed out the Government's "absolute failure to achieve any important reduction in the tariffs of other countries" by using British tariffs as a bargaining weapon.
Just as unanswerably the Earl Stanhope replied that Britain's tariff policy, adopted in 1931, reduced the Kingdom's adverse merchandise trade balance £120,000,000 last year. As to bargaining tariffs down, said the Noble Lord, His Majesty's...
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