Section 201
Section 201: a section, usually called the escape clause, of the United States Trade Act of 1974 and subsequent versions of the Act. It gives American firms relief from imports that are considered causing, or threatening to cause, serious injury to an industry. It applies to products that are traded fairly. In other words, products are not considered subsidized or dumped. Relief may be brought about through temporary tariff increases, import quotas, negotiated restraint arrangements or direct assistance to the industry concerned. See also safeguards and voluntary restraint agreement.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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