With reference to Special Safeguard Mechanism, which of the following statements is correct?

It sets down minimum standards for many forms of international property regulation.

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It empowers developing countries to levy additional safeguard duties in the event of an abnormal surge in imports of the entry of unusually cheap imports.

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It is concerned with the application of food safety and animal and plant health regulations.

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It is aimed at ensuring that regulations, standards, testing and certification procedures do not create unnecessary obstacles to trade.

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Solution

The correct option is B It empowers developing countries to levy additional safeguard duties in the event of an abnormal surge in imports of the entry of unusually cheap imports.
Special Safeguard Mechanism empowers developing countries to levy additional safeguard duties in the event of an abnormal surge in imports of the entry of unusually cheap imports. At the Doha Ministerial Conference, the developing countries were given a concession to adopt a Special Safeguard Mechanism (SSM) besides the existing safeguards.

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