FOREIGN TRADE: Economic War?

When Secretary of State Cordell Hull last week abrogated the 28-year-old U.S.-Japan treaty of commerce and navigation, he put the skids under trade with the U.S.'s third-best customer.* To Japan last year went 7.7% ($239,639,000) U.S. exports; from Japan came 6.5% ($126,828,000) of U.S. imports. Small as this was in the U.S. total it represented 16.6% of Japan's foreign exports, made the U.S. her No. 1 customer. By toting up this million-dollar-a-day business, Japan could see that the U.S.:

>Took 80.4% of her raw silk exports ($83,651,000 worth last year).

>Supplied her with...

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