Article 2 Principles
United Kingdom
A safeguard measure may be imposed in accordance with this Regulation where a product originating in F1Colombia, Ecuador or Peru is, as a result of tariff concessions on that product under the Agreement, imported into the Union in such increased quantities, in absolute terms or relative to Union production, and under such conditions as to cause or threaten to cause serious injury to the Union industry.
A safeguard measure may take one of the following forms:
a suspension of a further reduction of the rate of customs duty on the product concerned provided for in the Tariff Elimination Schedule;
an increase in the rate of customs duty on the product concerned to a level which does not exceed the lesser of:
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the most-favoured-nation (‘MFN’) applied rate of customs duty on the product in effect at the time the measure is taken, or
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the base rate as specified in the Tariff Elimination Schedule.