§ 19. Mr. Shinwell
asked the President of the Board of Trade whether there has been any increase in Anglo-American trade since the Anglo-American Trade Treaty was signed?
§ Mr. Stanley
In view of the short time which has elapsed since the entry into force of the trade agreement between the United Kingdom and the United States, it is too early to draw any definite conclusions from the statistics at present available. There are, however, already signs of a considerable expansion in exports of United Kingdom goods to the United States. The increase in the first two months of this year, as compared with the same period of 1938, exceeded£1,000,000. Imports from the United States, on the other hand, show a substantial decline, but it must be remembered that imports from this source were at a peak level last year.