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Voluntary Restraint Agreement

   Also found in: Medical, Acronyms, Wikipedia 0.01 sec.
Voluntary Restraint Agreement
An agreement between two or more countries in which each limits exports to the other. While this reduces trade between the counties involved, it can help domestic industries and, in any event, can reduce tensions because fewer workers in the involved countries may be worried about outsourcing.


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had to resort to a complicated trigger price mechanism to fend off foreign competition and in the 1980s to negotiating voluntary restraint agreements with our trading partners to avoid pursuing antidumping cases against them.
When the Voluntary Restraint Agreement took effect, Japanese builders were held to quotas set according to their existing market share.
steelmakers' market share, union and management linked arms to pursue a protectionist strategy, persuading government to adopt Voluntary Restraint Agreements and other measures designed to limit steel imports.
 
 
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