Voluntary Export Restraints on Automobiles
Now we know what a decade of quotas on Japanese cars cost consumers. In May 1981, with the American auto industry mired in recession, Japanese car makers agreed to limit exports of passenger cars to the United States. This “voluntary export restraint” (VER) program, initially supported by the Reagan administration, allowed only 1.68 million JapaneseContinue reading "Harvest Of Savings"
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