News 24 Jun. 2021
Curtis successfully defends foreign states' procedural privileges in the UK Supreme Court
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News 23 Jun. 2021
Ibrahim Elsadig joins Curtis as Partner in Dubai
Client Alert 24 Feb. 2022
EU, UK, Japan and Australia Impose Sanctions on Russia
News 09 Aug. 2021
Curtis, Mallet-Prevost, Colt & Mosle enters into association with Chevalier Law in Singapore.
News 06 May. 2022
Curtis Advises Terna Group on the Sale of its Latin America Power Transmission Assets to CDPQ
Publications 05 May. 2022
Marie-Claire Argac, Simon Batifort, and Cyprien Mathié share highlights from “Affaires d’Etats: Practical Considerations When Defending States in International Arbitration” on Kluwer Arbitration Blog
Event 26 Apr. 2022
Claudia Frutos-Peterson Speaks at CAI Costa Rica’s 13th Congress of International Arbitration
News 21 Apr. 2022
SCOTUS Upholds U.S. Colonialism under the U.S. Constitution
Client Alert 23 Mar. 2022
The Dubai International Arbitration Centre (DIAC) has launched the DIAC Arbitration Rules 2022
Event 22 Nov. 2021
Partner Antonia Birt spoke at ADGMAC and AIAC Webinar Series: Webinar 5 - Disputes in Fintech and Complex Technology in MESEA
News 19 May. 2022
Eliot Lauer’s and Juan Perla’s Tenth Circuit Arguments Featured on Audio Arguendo Podcast
News 16 May. 2022
Curtis Files SCOTUS Amicus Brief for Ohio Justice & Policy Center in Prisoners’ Rights Case
Client Alert 21 Apr. 2022
New Laws Targeting Assets of Russian Oligarchs: The U.S. Announces Task Force KleptoCapture and the Kleptocracy Asset Recovery Rewards Program
Client Alert 19 Apr. 2022
U.S. President Biden Expands Export Controls Imposed on Russia and Belarus
Client Alert 24 Jun. 2021
Update on Virtual Notarization (Executive Order 202.7) During the COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
Update on Virtual Witnessing (New York Executive Order 202.14) During The COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021) — U.S. Insight
International Trade
Safeguard measures are measures introduced by a country that qualify as “emergency” actions under the WTO Agreement on Safeguards. These actions are intended to prevent or mitigate serious injury to the member state’s domestic industry. They can include tariffs, duties, or other trade barriers that reduce the flow of a good into an importing country’s borders.
A safeguard tariff is a type of safeguard measure designed to restrict the flow of a particular type of good into an importing country in cases where continued importation could seriously injury domestic industry. In order to qualify as trade safeguard measures, these tariffs are required to have sunset clauses (or time limits).
A safeguard duty is a type of safeguard measure designed to reduce the flow of a good into an importing country in situations where its continued importation could lead to serious injury to a domestic industry. Like safeguard tariffs, safeguard duties must typically contain sunset clauses, and are usually imposed by an importing country against all other nations (as opposed to one specific member country).
A legal safeguard is any safeguard measure that complies with the requirements set out in the WTO Agreement on Safeguards. Safeguard measures that violate these principles and rules, or fail to incorporate required components, are considered illegal and may lead to international trade disputes and a requirement that a member state pay compensation or face retaliatory measures.
The purpose of a safeguard measure is to prevent serious injury to a domestic injury that might be caused by the importation, or continued importation, of a particular good or category of goods. It is an emergency action under the WTO Agreement on Safeguards and is designed as a “failsafe” to prevent catastrophic damage to a local industry.
A safeguard duty is a type of customs duty imposed by emergency action under the WTO Agreement on Safeguards. It is designed to prevent harm and injury to a domestic industry that would face intense competitive pressure from the continued importation of a particular good.
In the international trade context, “safeguarding” something means to impose a safeguard measure to prevent the flow of goods into a nation’s borders in order to keep a domestic industry from suffering serious harm or injury. It is an emergency action designed to act as a last resort against economic loss caused by international trade.
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