Protectionism: Difference between revisions
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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. | Protectionism can be achieved by imposing tariffs or quotas on imported goods, or granting subsidies or tax advantages to domestic businesses. | ||
Revision as of 11:08, 13 March 2017
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.
