Export Restraints

Export Restraints and the GATT Policy Negotiations

In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Export Restraints: Also referred to as bilateral restraint agreements. Quantitative restrictions applied by exporting countries to curtail shipments of sensitive products to a specified foreign market for a fixed time period, usually pursuant to a formal or informal agreement with the importing country (seevoluntary restraint agreements and orderly marketing agreements.) Their economic effects –unlike those of “traditional” trade restrictions such as tariffs or import quotas –include significant benefits to established foreign producers. VRAs and OMAs have no explicit sanction under GA TI’ (see grey area measures).

In the United States

For information about Export restraints in the context of international trade, click here

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