Japanese steel producers voluntarily limit the amount of steel they export to the US.This is an example of a(n)

Question

Quizplus · Accepted Answer

The voluntary limit of steel exports from Japanese producers to the US is an example of an export restraint agreement. This is an agreement between governments or, as in this case, between producers of exporting countries, to limit the quantity or value of goods that can be traded between them. In this case, Japanese steel producers are limiting their exports to the US to avoid tariffs or quotas that the US may enforce on such imports.

Japanese Steel Producers Voluntarily Limit the Amount of Steel They