Common use of Global Emergency Measures Clause in Contracts

Global Emergency Measures. 1. Each Signatory Party retains its rights and obligations under Article XIX of GATT 1994, the WTO Agreement on Safeguards or any other safeguard agreements pursuant thereto except those regarding exclusion from a measure to the extent that such right or obligation is inconsistent with this Article. Any Party or Signatory Party taking an emergency measure under Article XIX, the WTO Agreement on Safeguards or any such agreement shall exclude imports of goods from the other Party or Signatory Party from the measure unless: (a) the specific product is not covered by this Agreement; or (b) imports from the other Signatory Party account for a substantial share of total imports and contribute importantly to the serious injury or threat thereof caused by total imports.