From a speech:
We generally think of contingency trade policy as actions available to deal with unanticipated market situations. It is well understood such measures are fundamental to the effectiveness and stability of trade agreements. In their various guises, they can be thought of as safety valves, a form of insurance, an instrument of economic adjustment or as a deterrent against the trade-distorting policies of others.
Here's a question I have about such measures: Do the least developed countries have the institutional capability to make use of this "safety valve"? If not, should we be doing something more than we are to help them?
