Specific transitional safeguard mechanism
Specific transitional safeguard mechanism: a mechanism available under the Agreement on Textiles and Clothing during the transition period (i.e. the period ending on 1 January 2005 when trade in textiles and clothing has to be brought under the normal disciplines of the GATT). Article 6 of the Agreement states that the mechanism may be used by a WTO member when it is clear that “a particular product is being imported into its territory in such increased quantities as to cause serious damage, or actual threat thereof, to the domestic industry producing like and/or directly competitive products”. Serious damage, or the threat thereof, must be caused by increased quantities in total imports of the product in question. Factors such as technological changes or changes in consumer preference are not valid reasons to impose safeguards under this mechanism. Such safeguards have to be applied on a member-by-member basis. That is, the mechanism targets the supplying countries or economies seen as the cause of the problem. See also safeguards, selectivity, special safeguards and Transitional Product-Specific Safeguard Mechanism.
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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