Voluntary Restraint Agreement
Quick Summary
The Voluntary Restraint Agreement (VRA) was an accord between Japan and the United States that took effect in 1981. It limited the number of cars each Japanese automaker could export to the U.S. annually. This agreement was a response to threats of sanctions from the U.S. due to heavy losses experienced by American automakers like Chrysler, Ford, and General Motors. The VRA was renewed yearly through the early 1990s and aimed to protect the U.S. automotive industry from overwhelming competition from Japanese imports. A similar agreement was also in place in Canada during the 1980s.1
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