News 24 Jun. 2021
Curtis successfully defends foreign states' procedural privileges in the UK Supreme Court
News 23 Jun. 2021
Ibrahim Elsadig joins Curtis as Partner in Dubai
News 09 Aug. 2021
Curtis, Mallet-Prevost, Colt & Mosle enters into association with Chevalier Law in Singapore.
Event 23 Apr. 2021
Partner Borzu Sabahi to speak on Damages, Enforcement and Annulment of Arbitral Awards at Executive Training Program hosted by the Government of India and the Indian Institute of Foreign Trade
Client Alert 18 Oct. 2021
Senior Associate Martin Wolff Discusses Practical Questions with Regard to the German Implementation of the EU Directive on Cross-Border Tax Arrangements (DAC6) in Institutional Money
News 18 Oct. 2021
Jan Krupski Joins Curtis as a Partner in Frankfurt
News 15 Oct. 2021
Claudia Frutos-Peterson and Elisa Botero Ranked Among the Top 100 Female Lawyers in Latin America by Latinvex
News 13 Oct. 2021
Curtis Joins The Appellate Project to Promote Appellate Practice to Diverse Law Students
Client Alert 15 Oct. 2021
Recent change in Dubai’s Arbitration Landscape.
News 20 Sep. 2021
Curtis Successfully Defends the Sultanate of Oman and Oman Aluminium Rolling Company LLC in U.S. Department of Commerce Trade Case
Client Alert 05 Oct. 2021
Proposed Legislative Changes to Federal Estate, Gift and Trust Taxation
Publications 22 Sep. 2021
Client Alert 24 Jun. 2021
U.S. Insight: 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)
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.