THE TERM FOR APPLYING TRANSITIONAL SAFEGUARD MEASURES ON TEXTILE PRODUCTS SHALL NOT EXCEED 4 YEARS
The Circular No. 19/2019/TT-BCT on applying special safeguard measures for the implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership is issued on September 30, 2019 by the Ministry of Industry and Trade.
Accordingly, the Minister of Industry and Trade decides the application of transitional safeguard measures on textile and garment products when the investigation authorities' investigation conclusions contain the following contents:
First, there is an absolute or relative increase in import compared to domestic production of textile and garment products under investigation from one or several member countries as a result of preferential tariff treatment under the CPTPP.
Second, the domestic manufacturing sector is seriously damaged or threatened caused by the above increase in imports.
In this case, applicable transitional safeguard measures on textile and garment shall include increasing tax rate for such goods, but not the tax rate shall be lower than the preferential tax rate taking effect at the time of applying this measure or the one taking effect on January 13, 2019, depending on which is the lower one.
The term for applying transitional safeguard measures shall not exceed 2 years and shall be extended for a maximum of 2 years.
This Circular takes effect on November 14, 2019.
