What are the key principles of the WTO's Agreement on Safeguards?

The World Trade Organization’s (WTO) Agreement on Safeguards is a set of principles designed to help protect countries from unfair trade practices. This agreement helps member nations protect the domestic industries and producers from injury caused by surges in imports. As part of the agreement, WTO members must ensure that imported products do not disturb the domestic balance of trade and that the producers in their own countries are not harmed from an increase in imports. The WTO Agreement on Safeguards outlines five key principles for all members: First, any measures taken as safeguards must be applied in a manner that does not affect trade between members more than necessary or violate the rights and obligations of members. Second, the measures must be applied in a manner that does not lead to a disruption of the balance in world trade. Third, any measures taken should not be more restrictive than necessary to protect the domestic interests. Fourth, the measures should be applied in a fair and equitable manner to all members, regardless of their market size. Lastly, any safeguard measures must be maintained at the lowest possible level and discontinued when no longer needed. These principles are designed to ensure that trade is fair and equitable between WTO member countries. In Washington, these principles can help ensure that imported products do not disrupt the domestic balance of trade and that domestic producers are protected from an increase in imports.

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What are the key principles of the WTO's Agreement on Safeguards?

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