Protectionism: Difference between revisions

Revision as of 14:44, 8 February 2017

Economics

Actions and policies designed to protect domestic businesses against competition from foreign companies.

Protectionism can be achieved by imposing tariffs or quotas on imported goods, or granting subsidies or tax advantages to domestic businesses.

The consequence of domestic protectionism, and tit-for-tat retaliatory measures by foreign countries, is to restrict international trade.

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 ''Economics''
-Actions and policies intended to restrict or restrain trading between states.
+Actions and policies designed to protect domestic businesses against competition from foreign companies.
-By increasing the price or restricting the quantity of imports entering the country, the aim is to make local businesses more competitive.
+Protectionism can be achieved by imposing tariffs or quotas on imported goods, or granting subsidies or tax advantages to domestic businesses.
-This can be achieved by imposing tariffs or quotas on imported goods, or granting subsidies or tax cuts to domestic businesses.
+The consequence of domestic protectionism, and tit-for-tat retaliatory measures by foreign countries, is to restrict international trade.
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 * [[Free trade]]
 * [[International trade]]
+* [[Tariff]]