Background
Demand for rubber declined sharply after World War I resulting in the British enacting the Stevenson Plan in 1921 to restrict the supply of rubber to support rubber prices and ensure the profitability of British rubber plantations in the Far East. However, the plan had many flaws and was abandoned in 1928. By 1928 the plan both irritated the United States and lacked apparent purpose. Demand for rubber was robust due to expanded use of the automobile in the United States.
After the stock market crash of 1929 the Great Depression hit the United States and rubber demanded once again softened. It was in this context that the International Rubber Regulation Agreement was implemented.
Read more about this topic: International Rubber Regulation Agreement
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