A voluntary export agreement

Question

Quizplus · Accepted Answer

A voluntary export agreement is a trade agreement between two or more countries where exporting countries voluntarily limit the quantity of goods they export to another country in exchange for some trade concessions. These agreements are typically negotiated by the world's most important exporting nation(s) (such as the U.S. or China) to avoid facing more restrictive trade measures such as tariffs or import quotas imposed by the importing country. Therefore, option A is the correct answer. Options B and C are incorrect statements.

A Voluntary Export Agreement