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 duty provided for in this Agreement, a product benefiting from preferential tariff treatment under this Agreement is being imported into the territory of a Party in such increased quantities, in absolute terms or relative to the domestic production and under such conditions as to constitute a substantial cause of serious injury or threat thereof to a domestic industry producing a like or directly competitive product, the importing Party may impose a safeguard measure described in paragraph 2, during the transition period only.

Imposition of a Bilateral Safeguard Measure. If, as a result of the reduction or elimination of a duty provided pro- vided for in this Agreement, a product benefiting from preferential tariff treatment under this Agreement is being imported into the territory of a Party in such increased quantities, in absolute terms or relative to the domestic production and under such conditions as to constitute a substantial cause of serious injury or threat thereof to a domestic industry producing a like or directly competitive productprod- uct, the importing Party may impose a safeguard measure described de- scribed in paragraph 2, during the transition period only.