protectionism (redirected from protectionist)

Protectionism

Actions taken by a government to prevent imports from destroying domestic producers.

Notes:

Governments that impose tariffs, quotas, or any other type of tax on imports are taking on a policy of protectionism.

See also: Dumping, Export, Import, Quota, Tariff, WTO

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Protectionism

Notion that governments should protect domestic industry from import competition by means of tariffs, quotas, and other trade barriers.

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protectionism

The establishment of barriers to the importation of goods and services from foreign countries in order to protect domestic producers. Protectionism generates higher consumer prices. It is also likely to penalize domestic exporters because foreign countries are apt to retaliate with trade barriers of their own.