workers press

The Socialist Labour League's press: The Newsletter, Workers Press, Labour Review and Fourth International, 1952–1973. A searchable archive of the scans

MARKET CONFLICT

By John Spencer

Workers Press no. 683, 8 February 1972 · scan page 3

Topics: United States, Italy and Germany, Common Market, Economic crisis

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AMERICAN Treasury secretary John Connally is pressing hard for the forma. tion of a dollar bloc to combat the Com. mon Market on the trade front. Connally has emerged as the head of the growing protectionist lobby in the US which advocates all-out trade war against America's competitors.

He wants an alliance of the US, Canada, Australia, New Zealand. Latin America and Spain which would operate tariffs and trade preferences against the enlarged Common Market.

He is particularly hostile to the EEC's plans to extend its preferential trading arrangements to Euro pean and other countries outside the Market itself.

The months of hard bargaining since August 15, when Nixon took : the dollar of gold, have proved fruitless, in Connally's view.

His plan would split the capitalist world mutually-hostile blocs, each protected by duties and trade deals and each competing with the other for what markets remain.

A growing section of American big business gards this as the only available course to meet continuing international monetary crisis and the deterioration of America's trading position.

After weeks of talks, the US and the Common Market finally patched together an interim trade deal in Brussels last Friday. The European countries made certain relatively minor concessions in return for a guarantee that the price of gold would be raised officially.

But it is already clear that despite the temporary rally on the foreign exchanges following the announcement of agreement the basic division remains.

Already the French government is proclaiming its dissatisfaction with the deal, which has still to be approved by the Common Market member-states. The French want reciprocal concessions from the US.

Another sign of the shape of things to come is the amendment to the Minimum Wage Bill currently on its way through House of Representatives in Washington.

The protectionists have quietly tucked onto the end of the Bill a 'buy American' amendment imposing a complete ban on government purchase of all foreign goods and giving the President sweeping powers to stop imports by foreign buyers.

The President would also be empowered to raise tariffs on imports that impair economic welfare' or endanger the 'health efficiency or general well-being' of American workers.

Brandt invite ISRAEL has invited W German chancellor Willy Brandt to pay an official visit to Jerusalem— the first ever by a W German head of state. The invitation, unanimously approved by the government coalition parties, was sent out on Sunday night by premier Golda Meir. It was handed to Brandt by the Israeli embassy in Bonn. The visit is certain to arouse opposition from many Israelis who regard the W German_government as the heir of the Nazi regime.

into two customs furiously PredeJAN SLING WA IN LONDON YESTERDAY WORDS AND DEEDS OVER ULSTER HE LONDONDERRY massavoked widespread demonstrations and anger. But it must be said that taken by themselves these forms of protest are not enough. If Ireland could have achieved the socialist Republic by martyrdom and anger, it would have already done so many times over. The all-important question of Marxist policy in the struggle against the imperialist oppressor is now decisive.

Speaking in Hammersmith the night after the killing Bernadette Devlin summed up the situation as follows:

• • It is not our function in life to die for Ireland.

It is our function to live, work and struggle for a workers' republic.

It is not sympathy or feelings of frustration that are needed now. You must go away determined to organize and act. 'If you are Cnor in trade union, get into one.

do not read books, start to read If not a member an organizadetermined to bring down the Tories, join one.

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