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Trade War with U.S. Seen in Berlin

A full-fledged world trade war, with the Nazi Reich everywhere pitting its streamlined economic methods and its high-powered propaganda machinery against the potent influence of the pound sterling and the dollar, was forecast for the coming year in informed circles here tonight. The guided press tacitly warned that the Reich would give the United States serious competition in South America. Comments on the Lima conference gave editors new opportunity to attack President Roosevelt as a champion of “dollar diplomacy” in Latin America. Newspapers all agreed the outcome at Lima represented a setback for Washington, resulting, according to the Nazi view, from the “will to independence” of numerous South American statesmen.

The Frankfurter Zeitung interpreted recent Anglo-American trade and political moves as aimed at eliminating Germany from world commerce and warned that “this method is not of a nature calculated to lead to German concessions in the matter of transfer of Jewish capital or other economic arrangements.”