118. Editorial Note
On January 19, 1960, President Eisenhower met at the White House with Japanese Prime Minister Nobusuke Kishi, who was in Washington to sign a Treaty of Mutual Cooperation and Security between the United States and Japan. Following their discussion, the President and the Prime Minister issued a joint communiqué, which contained observations on international trade, U.S.-Japanese trade relations, and international development and an agreement to consult regularly regarding “economic matters of mutual interest.” For text, see American Foreign Policy: Current Documents, 1960, pages 668–669.
The following day, the Economic Report of the President was transmitted to the Congress. For extracts of the report, including its examination of trade issues, see Department of State Bulletin, February 22, 1960, pages 301–307. On February 11, Deputy Assistant Secretary of State Edwin Martin testified before the Senate Foreign Relations Committee on Worldwide and Domestic Economic Problems and Their Impact on the Foreign Policy of the United States, a report prepared for the committee by the Corporation for Economic and Industrial Research, Inc. Martin endorsed the report’s conclusions, including its statement on “the value of a continued liberal approach to our policies on trade with our friends in the free world.” For text of his statement, see ibid., February 29, 1960, pages 340–344.
On February 17, the U.S.-Canadian Committee on Trade and Economic Affairs issued a communiqué on the results of its fifth meeting, held in Washington February 16–17. The committee “agreed on the desirability of policies designed to bring about even greater expansion of trade on a multilateral basis” and “welcomed the considerable progress since the last meeting in the removal of restrictions and the elimination of discrimination against exports from the dollar area.” Among the other topics it discussed were agricultural problems, the effects on Canadian producers of U.S. quota restrictions on lead and zinc imports and of U.S. cotton supports, and problems arising in both countries from increased imports of low-cost manufactured goods. Finally, the committee considered economic developments in Europe and the roles the United States and Canada might play as a result of them. For text of the communiqué, see American Foreign Policy: Current Documents, 1960, pages 305–308.