The U.S.-Japanese agreement in 1981 to limit imports of small Japanese cars to the U.S.

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The agreement resulted in a quota system that limited the number of Japanese cars that could be imported to the U.S. per year. This led to increased demand for Japanese cars in the U.S., allowing Japanese automakers to raise their prices. The extra cost was ultimately passed on to the U.S. consumer, costing around $660 or more per imported Japanese car. The agreement did not result in significant losses to the Japanese auto industry or save any U.S. jobs.

The US-Japanese Agreement in 1981 to Limit Imports of Small Japanese