Import substitution: Import substitution is an economic policy that aims to reduce reliance on imports by promoting domestic production and substituting foreign products with locally produced alternatives.
Voluntary export restraint (VER): A voluntary export restraint is when exporting countries voluntarily agree to limit their exports in order to avoid more restrictive measures like quotas from importing countries.
Non-tariff barriers: Non-tariff barriers are various trade restrictions other than tariffs, such as quotas, licensing requirements, or technical standards, that can impede the flow of goods between countries.