escape clause
ACRONYM
شرط گریز، بازرگانی: شرط تعلل
▼ ادامه توضیحات دیکشنری؛ پس از بنر تبلیغاتی ▼
English Dictionary escape clause noun - a part of a contract that states the conditions under which the contract may be broken
[TahlilGaran] English Dictionary ▲
Acronyms and AbbreviationsEscape Clause · A provision within the GATT (Article XIX) that allows a country try to suspend tariff or other concessions when certain imports injure or threaten to injure domestic producers of competitive goods or services. Section 201 of The Trade Act of 1974 codifies Article XIX in U.S. law. [TahlilGaran] Acronyms and Abbreviations Dictionary ▲
· The escape clause, which can be invoked under GATT Article XIX, allows countries to temporarily violate their GATT obligations to the degree and time necessary to protect a domestic industry from serious injury. Countries taking such actions, however, must consult with affected contracting parties to determine appropriate compensation for the violation of GATT rights, or be subject to retaliatory trade actions. Section 201 of the Trade Act of 1974 requires the U.S. International Trade Commission to investigate complaints filed by domestic industries or workers claiming that they are injured or threatened by rapidly rising imports. Section 203 of the Act provides that if the ensuing investigation establishes that the complaint is valid, relief may be granted in the form of adjustment assistance, which may be training, technical, and financial assistance, or temporary import restrictions in the form of tariffs, quotas, tariff rate quotas, and/or orderly marketing agreements. Import restrictions imposed under the escape clause authority are limited in duration. They may last no longer than five years but can be extended by the President for a three-year period. [TahlilGaran] Acronyms and Abbreviations Dictionary ▲