Section 22 waiver
Section 22 waiver: refers to Section 22 of the United States Agricultural Adjustment Act which required the Administration to impose quantitative restrictions or surcharges (above normal tariffs) whenever agricultural imports interfered with a United States farm program. In 1955, the United States was granted a waiver without a time limit to exempt this section of the Act from the GATT disciplines. Quotas imposed under Section 22 have been converted to tariff protection as a result of the Uruguay Round negotiations. See also agriculture and the multilateral trading system and tariffication.
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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