Page:United States Statutes at Large Volume 115 Part 3.djvu/584

 115 STAT. 2658 PROCLAMATION 7449-JUNE 8, 2001 The Parties agree to consult promptly at the request of either Party whenever either actual or prospective imports of products originating in the territory of the other Party cause or threaten to cause or significantly contribute to market disruption Market disruption exists within a domestic industry whenever imports of an article, like or directly competitive with an article produced by such domestic industry, are increasing rapidly, either absolutely or relatively, so as to be a significant cause of material iiijury, or threat thereof, to such domestic industry The consultations provided in this paragraph shall have the objectives of (a) presentiitg and examining the factors relatingto such imports that may be causing or threateningto cause or significantly contributingto marketdisruption, and (b)findingmeans of preventing or remedyiitg such market disruption Such consultations shall be concluded within sixty days from the date of the request for such consultations, unless the Parties agree otherwise Unless a different solution is mutually agreed upon during the consultations, the importing Party may (a) impose quantitative import limitations, tariff measures or any other restrictions or measures itdeems appropriate, and for such period of time it deems necessary, to prevent or remedy threatened or actual market disruption, and (b) take appropriate measures to ensure that imports from the territory of the other Party comply with such quantitative limitations or other restrictions introduced in connection with market disruption, in this event, the other Party shall be free todeviate from its obligations under this Agreement with respect to substantially equivalent trade Where in thejudgment of the importing Party, emergency action is necessary to prevent or remedy such market dismption, the importing Party may take such action at any time without prior notice or consultation, on the condition that consultations shall be effected immediately after taking such action The Parties acknowledgethat the elaboration of the market disruption safeguard provisions in this Article is without prejudice to the right of either Party to apply its laws and regulations applicable to trade in textiles and textile products, and its laws and regulations applicable to unfair trade, mchiding antidumping and countervailing duty laws Article 7 Commercial Disputes For the purposes of Chapter I of this Agreement 1 Nationals and companies of either Party shall be accorded national treatment with respect to access to all competent courts and administrative bodies in the territory of the other Party, as plaintiffs, defendants or otherwise They shall not be entitled to claim or enjoy immunity from suit or execution of judgment, proceedings for the recognition and enforcement of arbitral awards, or other liability in the territory of the other Party with ^ %*y

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