What are voluntary export restraints (VERs)?
A)Limits on the number of an item that can be imported
B)Regulations adopted when one country threatens restrictions on trade and an exporting country agrees to limit exports to avoid the imposition of more stringent limits
C)Restrictions that items to be sold as a domestic product must have a certain percentage of its final product components assembled domestically
D)Quotas that are agreed upon and sanctioned by the WTO

Question

Quizplus · Accepted Answer

Voluntary export restraints (VERs) are a trade policy tool where an exporting country agrees to limit the quantity of goods exported to another country. This is often done to avoid more severe trade restrictions or tariffs that the importing country might impose.

What Are Voluntary Export Restraints (VERs)