Page 273 - Regional Comprehensive Economic Partnership (RCEP)

4. When a Party terminates a transitional RCEP safeguard measure,
2. Each Party shall ensure that its competent authorities complete the rate of customs duty for the originating good subject to that
the investigation referred to in paragraph 1 within one year transitional RCEP safeguard measure shall be the rate that,
following its date of initiation. according to that Party’s Schedule in Annex I (Schedules of Tariff
Commitments), would have been in effect but for that transitional
RCEP safeguard measure.
Article 7.5: Scope and Duration of Transitional RCEP Safeguard
Measures 5. No transitional RCEP safeguard measure shall be applied again
to the import of a particular originating good that has been subject
1. No Party shall apply a transitional RCEP safeguard measure: to a transitional RCEP safeguard measure, for a period of time
equal to the duration of the previous transitional RCEP safeguard
(a) except to the extent, and for such time, as may be measure or one year since the expiry of such measure, whichever
necessary to prevent or remedy serious injury and to is longer.
facilitate adjustment;

(b) for a period exceeding three years, except that in Article 7.6: De Minimis Imports and Special Treatment
exceptional circumstances, the period may be extended by
up to one year if the competent authorities of the Party that 1. A provisional or transitional RCEP safeguard measure shall not
applies the transitional RCEP safeguard measure be applied to an originating good of a Party, as long as that
determines, in conformity with the procedures specified in Party’s share of imports of the good concerned in the importing
this Article, that the transitional RCEP safeguard measure Party does not exceed three per cent of the total imports of that
continues to be necessary to prevent or remedy serious good from all the Parties, provided that those Parties with less
injury and to facilitate adjustment and that there is evidence than three per cent import share collectively account for not more
that the domestic industry concerned is adjusting, provided than nine per cent.
that the total period of application of a provisional and
transitional RCEP safeguard measure, including the period 2. A provisional or transitional RCEP safeguard measure shall not
of initial application and any extension thereof, shall not be applied to an originating good of any Least Developed Country
exceed four years. Notwithstanding this provision, a Least Party.
Developed Country Party may extend its transitional RCEP
safeguard measure for an additional period of one year; or
Article 7.7: Compensation
(c) beyond the expiration of the transitional safeguard period.
1. A Party proposing to apply or extend a transitional RCEP
2. No transitional RCEP safeguard measure shall be applied to the safeguard measure shall, in consultation with the exporting
import of an originating good for a period of one year from the Parties that would be affected by such a measure, provide to
date on which the first tariff reduction or tariff elimination takes those exporting Parties mutually agreed, adequate means of
effect for that originating good as committed under this trade compensation in the form of concessions having
Agreement. substantially equivalent trade effects or equivalent to the value of
the additional customs duties expected to result from the
3. In order to facilitate adjustment in a situation where the expected measure. The Party applying a transitional RCEP safeguard
duration of a transitional RCEP safeguard measure exceeds one measure shall provide those exporting Parties that would be
year, the Party applying the transitional RCEP safeguard affected by such a measure with the opportunity to consult within
measure shall progressively liberalise the transitional RCEP 30 days of the date on which the transitional RCEP safeguard
safeguard measure at regular intervals during its period of measure was applied.
application.

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