Imposition of a Safeguard Measure. If, as a result of the reduction or elimination of a customs duty under this Agreement, an originating good of another Party or Parties is being imported into the territory of a Party during the transitional safeguard period for that good 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 that produces like or directly competitive goods, that Party may: (a) suspend the further reduction of any rate of customs duty provided for under this Agreement on the good; or (b) increase the rate of customs duty on the good to a level not exceeding the lesser of: (i) the most-favoured-nation applied rate of duty on the good in effect at the time the action is taken; or (ii) the most-favoured-nation applied rate of duty on the good in effect on the day immediately preceding the date of entry into force of this Agreement.
Appears in 15 contracts
Samples: Asean Australia New Zealand Free Trade Agreement, Free Trade Agreement, Asean Australia New Zealand Free Trade Agreement
Imposition of a Safeguard Measure. Iflf, as a result of the reduction or elimination of a customs duty under this Agreement, an originating good of another Party or Parties is being imported into the territory of a Party during the transitional safeguard period for that good 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 that produces like or directly competitive goods, that Party may:
(a) suspend the further reduction of any rate of customs duty provided for under this Agreement on the good; or
(b) increase the rate of customs duty on the good to a level not exceeding the lesser of:
(i) the most-favoured-nation applied rate of duty on the good in effect at the time the action is taken; or
(ii) the most-favoured-nation applied rate of duty on the good in effect on the day immediately preceding the date of entry into force of this Agreement.
Appears in 6 contracts
Samples: Free Trade Agreement, Free Trade Agreement, Free Trade Agreement