One of the most dramatic examples of voluntary export restraints (VER's)centered around

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In the 1980s, Japan was exporting a large number of automobiles to the United States, which was causing concern among U.S. automakers. To avoid the threat of protectionist measures, Japan agreed to voluntarily limit its exports of cars to the United States through a VER. This allowed Japanese firms to maintain access to the U.S. market while the U.S. automakers were given some relief from foreign competition.

One of the Most Dramatic Examples of Voluntary Export Restraints