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

Imposition of a Bilateral Safeguard Measure. If as a result of the reduction or elimination of a customs duty2-3 under this Agreement, an originating good of the other Party is being imported into the territory of a Party in such increased quantities, in absolute terms, and under such conditions that the imports of such good from the other Party alone2-4 constitute a substantial cause of serious injury or threat of serious injury to domestic industry producing a like or directly competitive product such Party may: (a) suspend the further reduction of any rate of customs duty on the good provided for under this Agreement; or (b) increase the rate of customs duty on the good to a level not to exceed the lesser of

Imposition of a Bilateral Safeguard Measure. If as a result of the reduction or elimination of a customs duty2-3 under this Agreement, an originating good of the other Party is being imported into the territory of a Party in such increased quantities, in absolute terms, and under such conditions that the imports of such good from the other Party alone2-4 constitute a substantial cause of serious injury or threat of serious injury to domestic industry producing a like or directly competitive product such Party may: (a) suspend the further reduction of any rate of customs duty on the good provided for under this Agreement; or (b) increase the rate of customs duty on the good to a level not to exceed the lesser of (i) The MFN applied rate of customs duty on the good in effect at the time the measure is taken; and