Safeguard
In the technical language of the World Trade Organization (WTO) system, a safeguard is used to restrain international trade in order to protect a certain home industry from foreign competition. A member may take a “safeguard” action (e.g. restrict importation of a product temporarily) to protect a specific domestic industry from an increase in imports of any product which is causing, or which is threatening to cause, serious injury to the domestic industry that produces like or directly competitive products.
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Famous quotes containing the word safeguard:
“There is one safeguard known generally to the wise, which is an advantage and security to all, but especially to democracies as against despots. What is it? Distrust.”
—Demosthenes (c. 384–322 B.C.)
“The state is therefore everyone; the rules within the state are laws which safeguard the welfare of all and which must originate from the welfare of all.”
—Georg Büchner (1813–1837)
“To safeguard one’s health at the cost of too strict a diet is a tiresome illness indeed.”
—François, Duc De La Rochefoucauld (1613–1680)