Extract from minutes of a meeting of the Cabinet
(Cab. 4/67)

Commercial Treaties

The Minister for Industry and Commerce recalled that he had been authorised by the Cabinet on the 10th July, 1928, to proceed with the negotiation of Commercial Treaties with foreign countries on a most favoured nation basis and with Dominion countries as far as may be practicable, 'on a most favoured Dominion basis'.

In order to obviate misunderstanding he suggested that the meaning to be attached to the phrase 'most favoured Dominion basis' should be 'something better than most favoured nation treatment and applied equally to Great Britain and the Dominions', on the understanding that this would not bind the Government to continue the granting of any preferences.

The Minister's proposal was agreed to.