President Johnson asked Congress recently to increase U.S. aid to Latin America. Secretary of State?
Rusk after session
Ques: Mr. Secretary, will the U.S. become apart of the plan for a common market in Latin America and if not, will an economy be effected in any way?
Rusk: Well, we would not ourselves be a part of the common market but we should be a partner of the common mark in economic terms in a very real sense. We would hope to be able to provide a certain amount of assistance but there will be very large trade opportunities opening up when the Latin American countries are able to proceed on a basis of an internal market of some 250 million at the present time, rapidly growing in the next two decades. Just as our trade with the common market in Europe is doubled in the last six years. Trade with Canada and Japan, highly industrialized countries, have put them in the first and second ranks in our trade market. We would expect that a rapidly developing Latin American common market would be a very important customer for American foreign trade both industrial and agricultural.
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Background: President Johnson asked Congress recently to increase U.S. aid to Latin America. Secretary of State Dean Rusk testified on this matter at a closed session of the House of Representatives Foreign Affairs Committee on Tuesday (March 14).
At the hearing, the Secretary asked the Congress to increase aid to Latin American nations which promised to help themselves as well. He estimated that the increased appropriations might be in the range of 1.5 billion dollars over the next five years, but declined to name any specific dollar amount. After the session he commented for newsmen. An excerpt is shown in our film, as follows: