FOREIGN TRADE: Economic Tragedy

The days of America's peacetime foreign trade were not just nostalgic memory to the 1,200 foreign traders who gathered in Boston last week for the meeting of the National Foreign Trade Council. For them, the present represents nothing but grim economic tragedy.

On paper U.S. exports look good: 1942's estimated $7 billion will be the best since the 1920 world reconstruction boom. But 65% of them (excluding supplies to armed forces abroad) will be Government-shipped Lend-Lease goods. For exporters to keep their foreign organizations intact is nearly impossible, but they have plenty of work to do. To many...

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