Escape clause
Escape clause: a provision in trade agreements which permits a party to suspend its obligations when imports cause or threaten to cause serious harm to the domestic producers of similar goods. GATT Article XIX contains the escape clause for trade in goods used by WTO members. It allows a member to supend its obligations or to modify liberalizing commitments if there are unforeseen circumstances and if any product is imported in such increased quantities likely to cause or causing harm to domestic producers. The Article is supplemented by the detailed rules of the Agreement on Safeguards. The GATS does not yet have an escape clause, though Article X establishes the mandate for this. Two main reasons are usually given for the inclusion of safeguard provisions in agreements. First, they encourage greater liberalization since countries making
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
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Author of the text: W. Goode
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