The managed trade is defined as the international trade managed under a bilateral/minilateral/multilateral agreement in the international economic society. As might be expected from the bilateral/minilateral/multilateral agreement, we can make an estimate that there is no trade friction from the managed trade. However, if there is an asymmetric economic effect from the managed trade between countries, there is plenty of room for the trade friction between countries. The purpose of this paper is to investigate how the managed trade gives rise to trade friction. For this, we build a model in which we explicitly analyse economic effect of the managed trade in a setup of VER and VIE. The result shows that there is more asymmetric economic effect between countries in the case of VER than VIE.