Protectionism: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Add link to Tariff page.) |
imported>Doug Williamson (Add link to Globalisation page.) |
||
| Line 11: | Line 11: | ||
==See also== | ==See also== | ||
* [[Free trade]] | * [[Free trade]] | ||
* [[Globalisation]] | |||
* [[International trade]] | * [[International trade]] | ||
* [[Tariff]] | * [[Tariff]] | ||
Revision as of 08:04, 9 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.
