voluntary export restraint(redirected from Voluntary Export Restrictions)
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
voluntary export restraintsee EXPORT RESTRAINT AGREEMENT.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005