Traffic light approach
Traffic light approach: a procedural framework adopted during the Uruguay Round negotiations on the reduction or elimination of subsidies. Negotiators agreed to a system which ultimately led them to categorize prohibited subsidies as red, actionable subsidies (i.e. subsidies that may be subject to countervailing measures because they are causing to harm to producers in other countries) as amber, and non- actionable subsidies (on which no countervailing measures may be taken) as green. Agricultural subsidies did not fall into this framework, and separate rules were negotiated on them as part of the Agreement on Agriculture. A similar approach had been tried unsuccessfully in the Tokyo Round and, indeed, in the early stages of the negotiations for the United States-Canada Free-Trade Agreement. UNCTAD has developed the
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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