Slichter Calls U.S. Import Barriers Economic Danger

Sumner H. Slichter, Lamont University Professor, foresees the collapse of our foreign policy in an article in the January Atlantic Monthly.

According to Slichter our "greatest single obstacle...to build a strong community of non-Communist countries has been the difficulty of these countries in selling to the United States."

Our superior efficiency, Slichter claims, keeps the foreign producer from entering the American market. Even if he can succeed in selling in this country there is likelihood that the duty on his commodity will be raised in consequence.

Slichter further states that if the rest of the world is to continue to buy from us at its present rate after foreign aid ceases, it must increase its sales to this country to 4.5 billion a year, little more than 2 percent of our annual industrial output.

He continues in that foreign producers can undersell us in two or three percent of our products if we let them. If we do, then they will have the money to buy our exports in return. Our economy will be helped by preventing our exports from dropping. Also foreign competition would stimulate our own industries into better efficiency.

Consequently "the United States is in the precarious position of having adopted a foreign policy that is in danger of falling because it requires changes in the country's tariff policy which the voters and pressure groups may not be ready to approve."

Slichter states finally that voters, in approving the new policy, would provide for the unity of the West as well as the advance of our economic interests by stimulating foreign trade.