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{
    "localId": "207522989",
    "label": "Memorandum from Secretary of the Treasury Fred Vinson to President Harry S. Truman, with Attachments",
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    "id": "207522989",
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    "contentType": "document",
    "title": "Memorandum from Secretary of the Treasury Fred Vinson to President Harry S. Truman, with Attachments",
    "citationUrl": "https://catalog.archives.gov/id/207522989",
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        "President's Secretary's Files (Truman Administration)",
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    "productionDates": [
        {
            "logicalDate": "1946-01-01",
            "year": 1946
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    "seq": 13,
    "pageIndex": 0,
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    "ocrText": "- 2 -\nII\nThe French Government has advised the United States Government of\nthe following policies:\n(a) A new French tariff is being prepared which will contain ad\nvalorem duties only and which will not increase the degree of protection\nover the level which existed prior to the war. This new tariff will\nserve as the level from which reciprocal reductions will be negotiated\nin the forthcoming multilateral conference.\n(b) France has definitely abandoned its pre-war policy of protect-\ning French producers with import quotas.\n(c) The French Government has reiterated that it has abandoned the\nprice equalization (perequation) procedure which it was compelled to\nuse provisionally during the period prior to the revaluation of the\nfranc in order to facilitate exports.\nIII\nThe French Government has made clear that it must maintain import\ncontrols within the framework of an import program but that it will\nmaintain such controls only so long as they are necessary to safeguard\nthe equilibrium of its balance of payments and to achieve in an orderly\nway its plan of reconstruction and modernization. The French Govern-\nment will administer the issuance of import licenses under the French\nimport program without discrimination as among foreign sources of\nsupply as soon as France possesses, or is able to earn, sufficient free\nforeign exchange so that it is no longer necessary for her to make her\npurchases within the limits of bilateral trade and financial arrange-\nments.\nIV\nThe two Governments have reached a mutually satisfactory under-\nstanding on the return to private channels of trade between France and\nthe United States. The French Government has already restored to\nprivate channels a large part of the import trade of France and its\ncolonies, and will continue to curtail the foreign procurement\nactivities of the Government.\nFrench Government procurement in the United States will be limited\nto equipment for public corporations and agencies. For the time being,\nGovernment procurement will also be continued for a restricted list of\nitems, such as short supply foodstuffs, steel, lumber, tires and\ncertain medical supplies."
}