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 Canadian state worried that if the US successfully negotiated voluntary export restraints, Japan would simply channel its exports to Canada, overwhelming its small domestic market.
of Virginia) introduces key concepts of international economics through contemporary headlines often of interest to students, incorporating a simplified account of the Melitz model, two offshoring models, and the Kala Krishna theory of voluntary export restraints.
domestically produced automobiles and, hence, that Japanese voluntary export restraints were not binding; pre-1986 results are inconclusive, but consistent with binding voluntary export restraints
Included here are import-licensing schemes, antidumping duty actions, tariff-rate quotas, price actions, import quotas, and voluntary export restraints (VERs).
1985), "Why Voluntary Export Restraints Are Voluntary", Canadian Journal of Economics, Vol.
According to Anderson (1992) antidumping actions are often used as a tactical tool by countries to foster voluntary export restraints.
He ably portrays the costs of AD duties and of the voluntary export restraints that preceded them, and he notes that other countries (including developing ones) have started imitating the United States by imposing similar duties.
economic relationship has revolved around voluntary export restraints imposed on Japan to reduce its trade surplus with the U.
The outcome depends on whether the country restricts its trade with tariffs, import quotas or voluntary export restraints.
The drop in the past months apparently reflects voluntary export restraints by major Japanese steelmakers under the threat of antidumping duties.
Daley said the United States will seek voluntary export restraints by Japanese steelmakers to stop the import surge.
Grey-area measures such as voluntary export restraints are to be phased out.
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