Safeguard Measures under World Trade Organization

Safeguard Measures under World Trade Organization: UPSC Mains General Studies Paper 3 :Current Affairs in Economy Watch

Recently, India and seven other members of the World Trade Organisation (WTO) criticised a decision by the European Union (EU) to extend a safeguard measure on specific steel products after June 30, 2024.

Safeguard Measures

  • These restrict imports of a product temporarily if a domestic industry is seriously injured or threatened with serious injury caused by a surge in imports.
  • Such measures, which in broad terms take the form of suspension of concessions or obligations, can consist of ....
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