477. Editorial Note

On January 18, Ambassador Sheldon T. Mills presented a note to Foreign Minister Luis Antonio Peñaherrera, which stated that the [Page 964] United States intended to terminate the 1938 Reciprocal Trade Agreement. For text of the trade agreement, see 53 Stat. 1951. Additional information on this decision is in Department of State, Current Economic Developments, Issue No. 459, January 18, 1955, page 12. (Department of State, Current Economic Developments: Lot 70 D 467) Current Economic Developments was a semimonthly classified periodical prepared by the Bureau of Economic Affairs in the Department of State for internal use as a background and policy guidance report for policy-level officers of the United States Government serving in the United States and abroad.

In response to a request from the Ecuadoran Government, the United States agreed to delay the termination of the trade agreement. The Ecuadorans stated that the termination would result in curtailment of the export of Panama hats, an important local product, and requested a 6-month period during which the hatmakers could be trained for other employment. (Current Economic Developments, Issue No. 471, July 5, 1955, page 20; ibid.) The Reciprocal Trade Agreement was terminated on July 16, 1956. For further information on this subject, see Department of State Bulletin, March 4, 1957, page 371. Additional documentation relating to termination of the trade agreement is in Department of State, Central File 411.2241.