Voluntary export restraints (VERs) are trade restrictions where an exporting country agrees to limit the quantity of goods exported to another country, usually to avoid harsher trade barriers like tariffs or quotas. These agreements are often made under pressure from the importing country and are designed to protect domestic industries from foreign competition while still allowing some level of trade to continue. VERs can serve as a way for exporting countries to maintain market access without facing the risk of more severe restrictions.
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