ABSTRACT

The uncertainty associated with the future of the agreement encouraged the parties to start negotiations early in 1935. There was no question yet of whether it was now time to end this experiment but simply one of the form it would continue to take. The ITC had learnt some lessons from previous experience but it would find itself in a particularly difficult situation as it tried to resolve the old question of the basis of the distribution of the standard tonnages. Renewing the agreement would take almost as much energy as administering it.