Protectionism: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Add 'governmental'.) |
imported>Doug Williamson (Expand for Quota and Trade war.) |
||
| Line 1: | Line 1: | ||
''Economics'' | ''Economics''. | ||
Governmental actions and policies designed to protect domestic businesses against competition from foreign companies. | Governmental actions and policies designed to protect domestic businesses against competition from foreign companies. | ||
| Line 7: | Line 7: | ||
The consequence of domestic protectionism, and tit-for-tat retaliatory measures by foreign countries, is to restrict international trade. | The consequence of domestic protectionism, and tit-for-tat retaliatory measures by foreign countries, is to restrict international trade. | ||
Escalated protectionism and retaliation is considered to be a 'trade war'. | |||
| Line 13: | Line 15: | ||
* [[Globalisation]] | * [[Globalisation]] | ||
* [[International trade]] | * [[International trade]] | ||
* [[Quota]] | |||
* [[Tariff]] | * [[Tariff]] | ||
* [[Trade war]] | |||
* [[Trumponomics]] | |||
Revision as of 11:59, 1 June 2018
Economics.
Governmental 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.
Escalated protectionism and retaliation is considered to be a 'trade war'.
