A voluntary export restraint is a trade policy by which a nation agrees to limit its

Question

Quizplus · Accepted Answer

A voluntary export restraint (VER) is a form of trade policy by which a nation voluntarily restricts its exports of goods to other countries in order to avoid more restrictive trade policies from the importing country. VERs are commonly used to limit the quantity of exports of a particular product to a specific country, often to avoid the imposition of tariffs or quotas. VERs are typically negotiated between two countries and are seen as a way to maintain good trade relations while still protecting domestic industries.

A Voluntary Export Restraint Is a Trade Policy by Which