Common use of Application of a Bilateral Safeguard Measure Clause in Contracts

Application of a Bilateral Safeguard Measure. 1. If, as a result of the reduction or elimination of a customs duty under this Agreement, a product originating in a Party is being imported into the territory of the other Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to cause serious injury or threat thereof to a domestic industry producing a like or directly competitive product, the importing Party may apply a bilateral safeguard measure described in paragraph 2 during the transition period. 2. If the conditions in paragraph 1 are met, a Party may, only to the extent as may be necessary to prevent or remedy serious injury, or threat thereof, and to facilitate adjustment: (a) suspend the further reduction of any rate of customs duty on the product provided for under this Agreement; or (b) increase the rate of customs duty on the product to a level not exceeding the lesser of: (i) the MFN applied rate of customs duty in effect at the time the measure is taken; or (ii) the MFN applied rate of customs duty in effect on the day immediately preceding the date of entry into force of this Agreement. 3. No Party may apply, with respect to the same product, at the same time: (a) a bilateral safeguard measure; and (b) a measure under Article XIX of the GATT 1994 and the WTO Agreement on Safeguards.

Application of a Bilateral Safeguard Measure. 1. If, as a result of the reduction or elimination of a customs duty under this Agreement, a product originating in a Party is being imported into the territory of the other Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to cause serious injury or threat thereof to a domestic industry producing a like or directly competitive product, the importing Party may apply a bilateral safeguard measure described in paragraph 2 during the transition period. 2. If the conditions in paragraph 1 are met, a Party may, only to the extent as may be necessary to prevent or remedy serious injury, or threat thereof, and to facilitate adjustment: (a) suspend the further reduction of any rate of customs duty on the product provided for under this Agreement; orAgreement;or (b) increase the rate of customs duty on the product to a level not exceeding the lesser of: (i) i. the MFN applied rate of customs duty in effect at the time the measure is taken; taken; or (ii) . the MFN applied rate of customs duty in effect on the day immediately preceding the date of entry into force of this Agreement. 3. No Party may apply, with respect to the same product, at the same time: (a) a bilateral safeguard measure; measure; and (b) a measure under Article XIX of the GATT 1994 and the WTO Agreement on Safeguards.

Application of a Bilateral Safeguard Measure. 1. If, as a result of the reduction or elimination of a customs duty under this Agreement, a product originating in a Party is being imported into the territory of the other Party in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to cause serious injury or threat thereof to a domestic industry producing a like or directly competitive product, the importing Party may apply a bilateral safeguard measure described in paragraph 2 during the transition period. 2. If the conditions in paragraph 1 are met, a Party may, only to the extent as may be necessary to prevent or remedy serious injury, or threat thereof, and to facilitate adjustment: (a) suspend the further reduction of any rate of customs duty on the product provided for under this Agreement; Agreement; or (b) increase the rate of customs duty on the product to a level not exceeding the lesser of: (i) i. the MFN applied rate of customs duty in effect at the time the measure is taken; taken; or (ii) . the MFN applied rate of customs duty in effect on the day immediately preceding the date of entry into force of this Agreement. 3. No Party may apply, with respect to the same product, at the same time: (a) a bilateral safeguard measure; measure; and (b) a measure under Article XIX of the GATT 1994 and the WTO Agreement on Safeguards.