Most Latin American exports now are raw materials and foodstuffs. We are attempting to help the other countries of the hemisphere to stabilize their … - Richard Nixon

" "

Most Latin American exports now are raw materials and foodstuffs. We are attempting to help the other countries of the hemisphere to stabilize their earnings from these exports, to increase them as time goes on. Increasingly, however, those countries will have to turn more toward manufactured and semimanufactured products for balanced development and major export growth. Thus they need to be assured of access to the expanding markets of the industrialized world. In order to help achieve this, I have determined to take the following major steps: First, to lead a vigorous effort to reduce the nontariff barriers to trade maintained by nearly all industrialized countries against products of particular interest to Latin America and other developing countries. Second, to support increased technical and financial assistance to promote Latin American trade expansion. Third, to support the establishment, within the inter-American system, of regular procedures for advance consultation on trade matters. United States trade policies often have a very heavy impact on our neighbors. It seems only fair that in the more balanced relationship we seek, there should be full consultation within the hemisphere family before decisions affecting its members are taken, and not after. And finally, most important, in world trade forums, I believe it is time to press for a liberal system of generalized trade preferences for all developing countries, including Latin America. We will seek adoption by all of the industrialized nations of a scheme with broad product coverage and with no ceilings on preferential imports. We will seek equal access to industrial markets for all developing countries, so as to eliminate the discrimination against Latin America that now exists in many countries. We will also urge that such a system eliminates the inequitable "reverse preferences" that now discriminate against Western Hemisphere countries.