Special Safeguard Measures on Specific Agricultural Goods. 1. A Party may apply a special safeguard measure on specific originating agricultural goods classified under the tariff lines indicated with “PS*” or “PS**” in that Party’s Schedule in Annex 1 (Schedules in Relation to Article 2.4 (Elimination or Reduction of Customs Duties)), hereinafter referred to as “special safeguard measure”, only under the conditions set out in that Party’s Schedule in Annex 1 (Schedules in Relation to Article 2.4 (Elimination or Reduction of Customs Duties)). 2. In proposing to apply a special safeguard measure, a Party may, in lieu of paragraph 2 of Article 2.13, increase the rate of customs duty on the originating good to a level not to exceed the lesser of: (a) the most-favoured-nation applied rate of customs duty in effect at the time the special safeguard measure is applied; (b) the most-favoured-nation applied rate of customs duty in effect on the day immediately preceding the date of entry into force of this Agreement; and (c) the Base Rate set out in that Party’s Schedule in Annex 1 (Schedules in Relation to Article 2.4 (Elimination or Reduction of Customs Duties)). 3. The applied special safeguard measure shall only be maintained until the end of the year in which it has been imposed.
Appears in 6 contracts
Samples: Economic Partnership Agreement, Economic Partnership Agreement, Economic Partnership Agreement
