Voluntary export restrictions are explicit agreements between countries to limit foreign export sales.

Question

Quizplus · Accepted Answer

Voluntary export restrictions (VERs) are indeed explicit agreements between countries to limit foreign export sales. They are usually imposed by the exporting country in response to pressure or threats of protectionist measures from the importing country. VERs are a form of managed trade and can have both positive and negative effects on the economy, such as limiting competition but also avoiding trade tensions and protecting domestic industries.

Voluntary Export Restrictions Are Explicit Agreements Between Countries to Limit