A voluntary export restraint (VER)is similar to an import quota, except that the former benefits the foreign producers while the latter benefits the domestic producers.

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A voluntary export restraint (VER) is an agreement by the exporting country to limit the amount of goods exported to another country, which can lead to higher prices for those goods, benefiting foreign producers. An import quota limits the quantity of goods that can be imported, protecting domestic industries from foreign competition and potentially benefiting domestic producers.

A Voluntary Export Restraint (VER)is Similar to an Import Quota