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Safeguards

Transportation Dictionary2K Group Shipping Dictionary
The General Agreement on Tariffs and Trade (GATT) permits two forms of
multilateral safeguards: (a) a country's right to impose temporary import
controls or other trade restrictions to prevent commercial injury to
domestic industry, and (b) the corresponding right of exporters not to be
deprived arbitrarily of access to markets.

Article XIX of the GATT permits a country whose domestic industries or
workers are adversely affected by increased imports to withdraw or modify
concessions the country had earlier granted, to impose, for a limited
period, new import restrictions if the country can establish that a product
is "being imported in such increased quantities as to cause or threaten
serious injury to domestic producers," and to keep such restrictions in
effect for a such time as may be necessary to prevent or remedy such
injury.

See also: WG , LDM , WISE , QCR , MD5

 

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