SECEX opens request for comments about Decree of safeguards
Today, the Secretariat of Foreign Trade (SECEX) initiated a public request for comments so that parties present, within 30 days, submissions about the Decree that regulates the administrative procedures related to the application of safeguard measures, in view of the provisions established in the World Trade Organization (WTO) Agreement on Safeguards.
The safeguard is a trade remedy instrument that allows the imposition of an additional duty or a quantitative restriction on the imports of a certain product, regardless the origin, once it is proven the domestic industry is suffering injury because of the surge of imports.
Currently, the procedure is regulated by the Decree 1488, of May 11th, 1995.
Among the proposed changes by the new Decree draft, we highlight:
The concerned parties can use this opportunity to expose to the Brazilian government their views about the safeguard instrument in Brazil.