Retaliation 2
Retaliation 2 : Action taken by a country whose exports are adversely affected by the raising of tariffs or other trade restricting measures by another country. The GATT permits an adversely affected contracting party (CP) to impose limited restraints on imports from another CP that has raised its trade barriers (after consultations with countries whose trade might be affected). in theory, the volume of trade affected by such retaliatory measures should approximate the value of trade affected by the precipitating change in import protection
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