A policy developed to show that exporting countries voluntarily agree to restrict their exports is known as:
A) Voluntary export restraints
B) Local content requirements
C) Administrative policy
D) Antidumping duties

Question

Quizplus · Accepted Answer

Voluntary export restraints are policies where exporting countries voluntarily agree to restrict their exports to certain countries to avoid the imposition of more restrictive trade barriers by the importing countries. This is often seen as a way to maintain positive relationships with trading partners while also protecting domestic industries. Local content requirements, administrative policy, and antidumping duties are all different types of trade barriers and policies. Voluntary export restraints are policies in which exporting countries voluntarily agree to limit or restrict their exports of a certain product to another country in order to avoid potential trade barriers or disputes. This can be seen as a form of self-regulation and can help to promote more stable trade relations between countries.

A Policy Developed to Show That Exporting Countries Voluntarily Agree