Protectionism: Difference between revisions

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''Economics''
''Economics''.


Governmental actions and policies designed to protect domestic businesses against competition from foreign companies.
Central actions and policies designed to protect domestic businesses against competition from foreign businesses, or businesses external to a trading bloc.


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




==See also==
==See also==
* [[Bloc]]
* [[Free trade]]
* [[Free trade]]
* [[Globalisation]]
* [[Globalisation]]
* [[Harmonisation]]
* [[International trade]]
* [[International trade]]
* [[Protectionist]]
* [[Quota]]
* [[Tariff]]
* [[Tariff]]
* [[Trade war]]
* [[Treaty]]
* [[Trumponomics]]
[[Category:The_business_context]]
[[Category:Trade_finance]]

Latest revision as of 13:31, 18 July 2022

Economics.

Central actions and policies designed to protect domestic businesses against competition from foreign businesses, or businesses external to a trading bloc.

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'.


See also