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by 39896880
592 days ago
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Toyota set up shop in the US in 1981 because the US auto industry and unions lobbied for import restrictions. Then Congress held hearings and threatened legislation, followed by the UAW filing trade complaints. Then, in the 1981, Japan signed the Voluntary Export Restraint (VER) agreement where they agreed to limit auto exports to the US to 1.68 million vehicles annually. [0] The US is the second largest auto market in the world. [0] https://en.m.wikipedia.org/wiki/Voluntary_export_restraint |
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