Common use of Application of a Safeguard Measure Clause in Contracts

Application of a Safeguard Measure. During the transitional safeguard period, if, as a result of the reduction or elimination of a customs duty pursuant to this Agreement, an originating good of the other Party is being imported into a Party’s territory in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to cause or threaten to cause serious injury to a domestic industry producing like or directly competitive goods, the Party may, to the extent necessary to prevent or remedy serious injury and facilitate adjustment, apply a safeguard measure consisting of: (a) the suspension of the further reduction of any rate of customs duty provided for under this Agreement on the originating good from the date on which the action to apply the safeguard measure is taken; or (b) an increase of the rate of customs duty on the originating good to a level not to exceed the lesser of: (i) the Most-Favoured-Nation (MFN) applied rate of customs duty in effect on the date on which the action to apply the safeguard 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.

Application of a Safeguard Measure. During the transitional safeguard period, if, as a result of the reduction or elimination of a customs duty pursuant to this Agreement, an originating good of the other Party is being imported into a Party’s 's territory in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to cause or threaten to cause serious injury to a domestic industry producing like or directly competitive goods, the Party may, to the extent necessary to prevent or remedy serious injury and facilitate adjustment, apply a safeguard measure consisting of: (a) the suspension of the further reduction of any rate of customs duty provided for under this Agreement on the originating good from the date on which the action to apply the safeguard measure is taken; or (b) an increase of the rate of customs duty on the originating good to a level not to exceed the lesser of: (i) the Most-Favoured-Nation (MFN) applied rate of customs duty in effect on the date on which the action to apply the safeguard 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.

Application of a Safeguard Measure. During the transitional safeguard period, if, as a result of the reduction or elimination of a customs duty pursuant to this Agreement, an originating good of the other Party is being imported into a Party’s Party‟s territory in such increased quantities, in absolute terms or relative to domestic production, and under such conditions as to cause or threaten to cause serious injury to a domestic industry producing like or directly competitive goods, the Party may, to the extent necessary to prevent or remedy serious injury and facilitate adjustment, apply a safeguard measure consisting of: (a) the suspension of the further reduction of any rate of customs duty provided for under this Agreement on the originating good from the date on which the action to apply the safeguard measure is taken; or (b) an increase of the rate of customs duty on the originating good to a level not to exceed the lesser of: (i) the Most-Favoured-Nation (MFN) applied rate of customs duty in effect on the date on which the action to apply the safeguard 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.