Hard-core Waiver

Hard-core waiver in Global Commerce Policy

In this regard, hard-core waiver is: a decision taken in the GATT in 1955 to allow members in certain cases to retain quantitative restrictions that had been maintained over several years because of persistent balance-of-payments difficulties. The waiver was subject to some conditions. For example, members had to demonstrate that a sudden removal of a quantitative restriction would result in serious injury to a domestic industry, and they had to carry out a policy of progressive liberalization. See also residual quantitative restrictions.[1]

Hard-core waiverin the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “Hard-core waiver” entry (OAS)

See Also