Tariff and Trade

TN considering the influence of our tariff policy upon our Pacific trade relations, I deem it advisable to divide the discussion into two distinct parts, corresponding to the double aspects of the problem. The first part will consist of the direct consequences which our tariff policy has had upon these relations, and the second part, of the indirect influence which our commercial policy toward foreign countries in general is exerting upon our relations in the Pacific area due to the closely interdependent nature of international trade. Many people minimize the unfavorable effects of our tariff policy on trade in the Pacific area, and even maintain that the great obstacles put in the way of European goods have resulted in larger expansion of our Pacific trade. What contributes largely to this wrong belief is that the bulk of the burden imposed upon foreign goods entering this country, especially by the Tariff Act of 1922, is being carried by Europe, while other continents feel less acutely the severity of our tariff. In looking over the figures of our international trade, one is struck bythe tremendous comparative increase of our Pacific trade in the last fifteen years. This is a phenomenon not restricted to the Pacific

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