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:
“Democracy cannot succeed unless those who express their choice are prepared to choose wisely. The real safeguard of democracy, therefore, is education.”
—Franklin D. Roosevelt (1882–1945)
“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)