Protectionist


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Protectionist

A scholar or other person who favors government policy or regulation restricting international trade. Examples of policies supported by protectionists include import quotas, which set a maximum number of imports for a certain good over a given period of time, and import substitution, in which the state subsidizes businesses and industries to make domestic goods less expensive. By far the most common example of protectionism, however, is the tariff, which is a tax on imports. Protectionists argue that protectionism encourages domestic production of goods and helps working class people, while critics contend that it hurts the people it aims to help by discouraging competition, which may drive down prices. The balance of protectionism and free trade is a controversial topic regarding the government's role in international trade. See also: General Agreement on Tariffs and Trade.
References in periodicals archive ?
But protectionists use the idea of people being duped to wrap everything up in red tape.
However, such subsidies and protectionist measures could have negative outcomes, some of which are irreversible.
They have to move way from adopting a protectionist stance,' he added.
Chen Feixiang, a professor at Shanghai Jiaotong University, in this regard says that 'if this ends at $34bn, it will have a marginal effect on both economies, but if it escalates to $500bn like Trump said then it's going to have a big impact on the two countries.' In the last few months, China in response to the Trump's protectionist policy depreciated its currency Yuan to 4.3 per cent against the Dollar.
That could make it a potential target for Trump's protectionist policies.
"Indeed, there are signs that the rise in uncertainty associated with the first protectionist steps and the ratcheting up of rhetoric has already been inhibiting investment," the BIS said.
Mr Martin said: "The EU's customs union is a protectionist system which is widely misunderstood.
In the USA, 61 per cent believe protectionism is on the rise, while in Europe, half (50 per cent) are seeing a rise in protectionist tendencies.
Thus, Trump's key advisers may end up encouraging him to implement more protectionist policies specifically targeted against China.
One of Trump's protectionist moves is to restrict Chinese investments in the U.S.
KARACHI -- US President Donald Trump is en route to adopting protectionist policies which may spark a global trade war.
KARACHI -- US President Donald Trump is embarking on a journey to adopt protectionist policies which might result in a global trade war.