Snapback provision in Global Commerce Policy
In this regard, snapback provision is: a mechanism sometimes built into preferential trade agreements or other trade agreements which allows an importing country to increase temporarily the tariff on a specified good or limit the quantities of that good that may be imported at the preferential tariff if its value at the border drops below a certain point.
Snapback provisionin the wold Encyclopedia
For an introductory overview on international trade policy, see this entry.
Notes and References
- Dictionary of Trade Policy, “Snapback provision” entry (OAS)