611.2331/177
Memorandum by the Chief of the Division of Commercial Treaties and Agreements (Hawkins)
I discussed with Mr. Welles today the question of going forward with trade-agreement discussions with Peru. He said that in addition to the difficulties of going ahead with negotiations which have been already indicated to Señor Beltrán, there is the extremely unsettled world situation which makes it difficult to negotiate an agreement at this time; that it is very difficult to consider concessions on any product when the price situation and other factors may be vastly different a few months hence than they are today. He said further that other means of cooperation with Peru have been suggested, and that he, personally, will look into the situation with a view to seeing what can be done along these other lines.
Mr. Welles said that I might advise Señor Beltrán in the above sense.