Serious Damage

Serious damage in Global Commerce Policy

In this regard, a definition of this issue is as follows: the condition that has be satisfied, for example, to justify action under the specific transitional safeguard mechanism to restrain the import of textiles and clothing. The Agreement on Textiles and Clothing does not define serious damage , but it explains that the claim of serious damage can be assessed by the effect of the imports of the product in question on the particular industry, as reflected, for example, in changes of output, productivity, utilization of capacity, inventories, market share, exports, wages, employment, domestic prices, profits and investment. See also injury.[1]

Serious damagein the wold Encyclopedia

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

Resources

Notes and References

1. Dictionary of Trade Policy, “Serious damage” entry (OAS)

See Also