Common use of Emergency Action on Imports of Particular Products Clause in Contracts

Emergency Action on Imports of Particular Products. 1. Where any product originating in a Party, as a result of the application of this Agreement, is being imported into the territory of another Party in such increased quantities and under such conditions as to constitute a substantial cause of serious injury or threat thereof to the domestic industry of like or directly competitive products in the territory of the importing Party, or of serious disturbances in any sector of the economy or difficulties which could bring about serious deterioration in the economic situation of a region of the importing Party, the importing Party may take safeguard measures in accordance with Article XIX GATT 1994 and the WTO Agreement on Safeguards. 2. Before applying safeguard measures pursuant to the provisions of Article XIX GATT 1994 and the WTO Agreement on Safeguards, the Party intending to apply such measures shall supply the Joint Committee with all relevant information required for a thorough examination of the situation with a view to seeking a solution acceptable to the Parties. 3. In order to find such a solution, the Parties shall immediately hold consultations within the Joint Committee. If, as a result of the consultations, the Parties do not reach an agreement withing thirty days of the initiation of the consultations on a solution to avoid the application of the safeguard measures, the Party intending to apply safeguard measures may do so in accordance with the provisions of Article XIX GATT 1994 and the WTO Agreement on Safeguards. 4. In the event of an EFTA State or Tunisia subjecting imports of products liable to give rise to the difficulties referred to in this Article to an administrative procedure having as its purpose the rapid supply of information on trade flow trends, it shall inform the other Party. 5. In critical circumstances, where delay would cause damage which it would be difficult to repair, action under paragraph 1 of this Article may be taken provisionally without prior consultation, on the condition that consultation shall be effected immediately after taking such action. 6. In the selection of safeguard measures pursuant to this Article, Parties shall give priority to those which cause least disturbance to the achievement of the objectives of this Agreement. 7. Safeguard measures shall be notified immediately to the Joint Committee and shall be the subject of periodic consultations within the Committee, particularly with a view to their abolition as soon as circumstances permit.