611.4131/120

Memorandum by the Chief of the Division of Trade Agreements (Grady)

At an informal luncheon at the Cosmos Club today at which were present Mr. Hansen,4 Mr. Ryder, Mr. H. O. Chalkley, Commercial [Page 3] Counselor of the British Embassy, and myself, Mr. Ryder brought up for discussion his recent conversations in London with British officials on the matter of a possible trade agreement with the United States. Mr. Chalkley had received a record from Leith-Ross5 of these conversations and indicated a desire to pursue the subject further. Mr. Chalkley indicated that the British Government though heretofore skeptical as to the prospects of a successful trade agreement with the United States was now desirous of looking into the matter carefully and sympathetically. His Government feels, however, (and of course we were in agreement) that no announcement should be made until both governments were fairly sure that an agreement could be consummated.

It was agreed that we should proceed in our usual manner of having a subcommittee of the Trade Agreements Committee prepare a survey report on Great Britain. Mr. Chalkley is leaving for London on July 10. We expressed doubt that our survey would be completed much before Chalkley’s return the latter part of September. Mr. Chalkley indicated that a similar survey from the British point of view would be instituted by him on his arrival in London.

Henry F. Grady
  1. Of the Division of Trade Agreements.
  2. Sir Frederick Leith-Ross, Chief Economic Adviser of the British Government since 1932.