The World Trade Organization Special Safeguard Mechanism: A Case Study of Wheat

Jason H. Grant and Karl Meilke

Review of Agricultural Economics, 2006, vol. 28, issue 1, 24-47

Abstract: A special safeguard mechanism is an attractive policy tool for low-income importing countries because it is automatic and does not require an injury test. Exporters might accept a safeguard for low-income countries if it results in larger tariff cuts than in its absence. The effects of a special safeguard mechanism on market stability and welfare are evaluated using wheat as a case study. The results show that a safeguard mechanism is not very trade distorting. Almost 80% of the increase in world welfare is still realized when low-income countries are granted a safeguard mechanism.

Date: 2006
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