Trade adjustment in the WTO system: are more safeguards the answer?

Abstract

For countries to engage successfully in the international trading system, their industries, firms, and workers must respond continually to new conditions of competition. The continuing need to adjust arises both from policy changes approved in multilateral negotiations -e.g., implementation of trade liberalization commitments, preference erosion, or adverse terms-of-trade consequences of export subsidy elimination -and from ongoing changes in competitive pressures inherent in a liberal trading system -e.g., ef…