Safeguard action: Emergency protection to safeguard domestic producers of a special good from an unforeseen surge in imports.

Sanitary & Phytosanitary Measures: Trade restrictions a member country can apply for the protection of human life and health, and plant or animal life and health.

Schedule: A country’s schedule is the document that sets out the terms, conditions and qualifications under which it will import foreign goods or open service sectors to foreign competition.

Sectoral component: Cutting oreliminating tariffs in certain sectors independent of tariff cutting formula followed in other sectors.

Services: WTO agreements cover three areas: goods, services and intellectual property rights. Disciplines in the area of services are contained in the General Agreement on Trade in Services.

Services sectoral classification list (W/120): Based on the United Nations Central Product Classification (UNCPC), the list covers 161 service activities under 12 broad sector heads. It has adequate in-built flexibility to accommodate newer categories of services within its purview. It is not necessary for member countries to stick to the W/120 classification for making their GATS commitments, but most have done so.

Special and Differential Treatment (S&DT or S&D): Preferential treatment that WTO rules allow for developing countries. For example, developing country exports may enjoy preferential access to developed country markets; may not be expected to offer full reciprocity in trade negotiations; and may enjoy greater flexibility and longer periods of time to phase in new commitments. 

Special safeguard mechanism: Right of certain developing countries to impose additional duties on imported agricultural products to make them more expensive in the local market.

Subsidies: Financial contribution by government to support a particular business or activity.

Swiss formula: Extreme tariff-cutting formula that favours bringing all tariffs of WTO member countries to the same level. Cuts high tariffs (as in most developing countries) more steeply than lower tariffs, exposing developing countries to greater market volatility.