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A voluntary export restraint (VER) or voluntary export restriction is a measure by which the government or an industry in the importing country arranges with the government or the competing industry in the exporting country for a restriction on the volume of the latter's exports of one or more products. [1]
Export restrictions, or a restriction on exportation, are limitations on the quantity of goods exported to a specific country or countries by a Government. Export restrictions could be aimed at achieving diverse policy objectives such as environmental protection, economic welfare, social wellbeing, conversion of natural resources, and controlling inflationary pressures.
The dynamics of trade diversion was described by Ravshanbek Dalimov in 2009. He used similarity of trade flows to the flux of gas or liquid stimulated by the pressure difference, while the flows of trade flows are stimulated by the price difference. [8] This allowed use of Navier-Stokes equations for the interregional dynamics of trade flows. [6]
The move is one element of the latest round of sanctions and export controls by the United States, partners and allies in response to Russia's ongoing war in Ukraine, which began on Feb. 24, 2022.
ASML, the largest supplier of equipment to computer chip makers, said on Wednesday that geopolitical tensions and any expansion of a U.S.-led campaign to restrict its exports to China remain ...
An orderly marketing arrangement is a non-legal treaty agreed upon by the national government stating that a sovereign state must refrain from exporting goods to a targeted negotiating sovereign state. These agreements relate directly to voluntary export restraints, safeguard and escape clause policies. Orderly marketing arrangements are ...
Many observers, including those in the chip industry, warn that placing further restrictions on U.S. exports could ultimately drive customers in some second-tier countries into the arms of China ...
Thus, the agreement on "voluntary" export restraints is imposed by the exporter under the threat of sanctions to limit the export of certain goods to the importing country. Similarly, the establishment of minimum import prices should be strictly observed by the exporting firms in contracts with the importers of the country that has set such prices.