Speech #810006979

Switzerland. under our reciprocaltradeagreements program. has been dumping millions of watches on our American market at far less than it costs to manufacture them here. This has forced our factories either to go out of business or to goon parttime production. What is the difference between importing cheap labor to compete with our American laborwhich our immigration laws forbidand importing the products of cheap labor to compete with the product of our factorieswhich our reciprocal trade program permitsthereby robbing our factory workers of their jobs? Before World War 1119313547 percent of the American market for jeweled watches was supplied by imported watches from Switzerland. and 53 percent of the American market was supplied by our own American jeweled watch industries. In 1936 we negotiated a reciprocal tradeagreement with Switzerland.