Salt Lake Telegram | 1930-07-03 | Page 11 | High Tariff Wall Seen as Blow to Industry in United States

High Tariff Wall Seen as Blow T To 0 Industry in hi i United States M e TEM LEADING E EXPORTS EXPORTS- RS- RS 29 Z 1 e eL 1 L u o L DI-L By ALLARD ALLARO SMITH c Vice President the Union Trust Company Cleveland Ceveland Ohio The growing gowing Importance o of ot world worM markets for tor I American manufactured products has been emphasized emphasized t. t sized by recent protests of ot various American industrialists indus Indus- I against a n high tariff wall Not man runny many years ears ago when the bulk of or American ul exports export was In food I and raw materials American manufacturers were I concerned only onty with wih the domestic market Then they were Inclined to favor lavor a tr tariff which would keep out torel made foreign n goods Now nil all ni that Is changed At tho present time practically 60 per percent percent cent of ot all al exports from flom the United States are aro finished manufactured products This Is a a. sharp gain gin an over ono one year c ago when 54 5 per cent of or exports were in finished manufactures It I Is significant that during the current curent year car oven even In tho the face of or orto trade aLto to depression tho export trend awa away from crude products and toward manufactured goods has continued The largest decline in exports thus far this year ear for instance was In tho the ce c case so of ot cotton and the greatest Increase In tho the caso case of or agricultural m machinery Tho The largest volume of ot American exports is cotton totaling Next comes automobile and vehicles totaling Machinery exports including Industrial a arI agricultural I and electrical total cl cal In view of ot these fac facts it is not to bo bG wondered at that many Amer Amer- lean ican manufacturers and economists are against high tariff walls wals be because because be- be cause as has been apty aptly expressed countries cannot permanently em continue continue con con- to bu buy of or us unless they are permitted to sell to tousand us and the more we restrict tho ho Importation of ot goods from them b by means of ot ever higher tariffs tho the moro more wo we reduce the possibility of or our ou exporting rUng to them