Mitsuo Matsushita, Thomas J. Schoenbaum, Petros C. Mavroidis, Michael Hahn
Mitsuo Matsushita, Thomas Schoenbaum, Petros C. Mavroidis, Michael Hahn
- Anti-dumping — Safeguards — Tariffs — Remedies — Sources of international law — Remedies and costs
Safeguards refer to the right of a WTO Member to impose temporary tariffs, quotas, tariff-rate quotas, or other measures to ensure that its economy or domestic industries do not suffer serious harm from imports and trade concessions. Unlike rights to impose import restrictions to counteract dumping and subsidies, safeguard remedies are not based on any concept of unfair trade or remedy for distortions by exporters. Safeguard remedies allow fairly traded imports to be restricted. This chapter discusses the legal and policy framework for safeguards in the GATT/WTO regime; GATT Article XIX and the Agreement on Safeguards; safeguard measures for balance-of-payment reasons; safeguard measures in textile and clothing trade; and prohibition on voluntary export restraints.