Book(electronic)#12011
Voluntary Export Restraints in WTO and EU Law: Consumers, Trade Regulation and Competition Policy
The initial leaps forward in international trade liberalisation were achieved under the auspices of the General Agreement on Tariffs and Trade (GATT) when trade barriers in the form of tariffs were significantly reduced or removed up until the mid-1970s. However, this advancement was counteracted by a new protectionism which surfaced in the oil crises and the subsequent world economic recession. The term new was not to indicate the novelty of protectionist tendencies regaining momentum, but instead referred to the ever more subtle instruments, deploying non-tariff barriers to trade. Among thes