US MAY BACK NEW TRADE BODY

US MAY BACK NEW TRADE BODY

U.S. Trade Representative Carla Hills Monday endorsed the creation of a new global trading organization as a way to foster economic growth but only if the current round of trade liberalization talks ends in success.

In a speech to a Dallas business group, Mrs. Hills said that a world trade organization could serve to keep global trade channels open and help the growth and progress of both the developed and developing world.But she said in the speech to the North Texas Commission that the current talks under the General Agreement on Tariffs and Trade had to result in increased trade and new rules to end unfair trading practices.

The idea of a world trade organization was raised last week by Canadian Trade Minister John Crosbie as a way to further strengthen international trade cooperation.

Mrs. Hills said, however, that a new organization for GATT's 97 members could not be a substitute for liberalized trade. "We must have the laws before we can build the courthouse," she said.