voluntary export restraint


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Voluntary Export Restraint

A situation in which one country agrees to restrict the export of one or more goods to another country. The voluntary export restraint allows a country to protect its internal market for the designated goods without erecting tariff or other trade barriers. A voluntary export restraint may be informal or it may be codified in a voluntary restraint agreement. It may or may not be reciprocal.

voluntary export restraint

see EXPORT RESTRAINT AGREEMENT.
References in periodicals archive ?
The resulting estimates of the impact of exchange rates on prices of domestically produced automobiles are an indirect test of whether the voluntary export restraints were binding.
Lastly, immiserizing growth never arises in the presence of voluntary export restraints if there is a decrease in import demand after growth.
Resort to grey-area measures such as voluntary export restraints (VERs) has in the past provided a way out but these transfer large quota rents to exporters and have therefore come to be regarded as costly to the importing country.
Non-automatic licenses, quotas/prohibitions, restraints under the MFA, voluntary export restraints, and single channel (state monopoly) for imports are included in this NTM category.
Nontariff barriers like voluntary export restraints increased, as did the number of "harassment grievances" filed under the GATT.
trade laws would be fully enforced after a global agreement on voluntary export restraints expired March 31.
President Bush announced in the fall of 1989 that a global program of voluntary export restraints would lapse on March 31, 1992.
GM SPOKESPERSON STATEMENT ON JAPANESE VOLUNTARY EXPORT RESTRAINTS (VERs)
As was the case under the voluntary export restraints to the U.
The Government of Japan soon will consider the issue of its voluntary export restraints on autos shipped to the United States for the fiscal year beginning April 1, 1992.
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