An import quota is a type of trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time.
[2][3] Quotas, like other trade restrictions, are typically used to benefit the producers of a good in that economy (protectionism).
Import quotas are usually implemented by awarding licenses to companies or individuals according to a specific catalogue of criteria, either free of charge, for a fee, or in the form of an auction.
For example, the United States imposes an import quota on cars from Japan.
The Japanese government may see fit to impose a quota share program to determine the number of cars each Japanese car manufacturer may export to the United States.