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Username: Peter

Rating:
Guru Stars

Asked to: Tom Burke

Date Created: 18 Jan 2017
Category 28
Tag Financial
Question What is 'Protectionism'?
Advice from Guru
Hello Peter,

Protectionism refers to government actions and policies that restrict or restrain international trade, often done with the intent of protecting local businesses and jobs from foreign competition. Typical methods of protectionism are tariffs and quotas on imports and subsidies or tax cuts granted to local businesses. The primary objective of protectionism is to make local businesses or industries more competitive by increasing the price or restricting the quantity of imports entering the country.

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