Snapback provision
Snapback provision: a mechanism sometimes built into preferential trade agreements or other trade agreements which allows an importing country to increase temporarily the tariff on a specified good or limit the quantities of that good that may be imported at the preferential tariff if its value at the border drops below a certain point.
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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