Protectionism: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Add link.) |
imported>Doug Williamson (Add link.) |
||
| Line 1: | Line 1: | ||
''Economics''. | ''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. | Protectionism can be achieved by imposing tariffs or quotas on imported goods, or granting subsidies or tax advantages to domestic businesses. | ||
| Line 12: | Line 12: | ||
==See also== | ==See also== | ||
* [[Bloc]] | |||
* [[Free trade]] | * [[Free trade]] | ||
* [[Globalisation]] | * [[Globalisation]] | ||
* [[Harmonisation]] | |||
* [[International trade]] | * [[International trade]] | ||
* [[Protectionist]] | * [[Protectionist]] | ||
Revision as of 01:21, 25 June 2021
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'.
