protectionism

(noun)

A policy of keeping the domestic producers of a product safe by imposing tariffs, quotas, or other barriers on imports.

Related Terms

(noun)

The economic policy of restraining trade between countries through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations designed to allow fair competition between imports and goods and services produced domestically.

Related Terms

Examples of protectionism in the following topics:

  • The Tariff and the Politics of Protection

    • Protectionism, a tactic supported by Republicans, was fiercely debated by politicians and condemned by Democrats.

  • The Great Depression

    • After World War I nations adopted the practice known as Protectionism, under which foreign goods were subject to tariffs, or import duties, so that foreign products would cost more and local products would cost less.
    • Milton Friedman's book, A Monetary History of the United States, co-written with Anna Schwartz, makes the argument that what made the "great contraction" so severe was not the downturn in the business cycle, trade protectionism, or the 1929 stock market crash, but the collapse of the banking system during three waves of panic over the 1930-33 period.

  • Wall Street Crash of 1929

    • Milton Friedman's A Monetary History of the United States, co-written with Anna Schwartz, makes the argument that what made the "great contraction" so severe was not the downturn in the business cycle, trade protectionism, or the 1929 stock market crash, but the collapse of the banking system during three waves of panic over the 1930-33 period.

  • Economic Nationalism

    • Support industry: Advocated for protectionism and opposition to free trade, particularly for the protection of "infant industries" and those facing import competition from abroad; policy examples include the Tariff of 1816 and the Morrill Tariff.

  • The Second Party System

    • In particular, the Whigs supported the supremacy of Congress over the presidency and favored a program of modernization and economic protectionism.

  • Tariff Reform

    • For instance, the Wilson-Gorman Tariff Act of 1894 did lower overall rates, but contained so many concessions to protectionism that Cleveland refused to sign it.

  • The Bourbons and the Redeemers

    • Bourbon Democrats were promoters of capitalism and opposed to the protectionism that the Republicans were then advocating.

  • Conclusion: Populism Resurgent

    • Both campaigns appeal to economic protectionism and have criticized free trade deals such as the North American Free Trade Agreement (NAFTA) and the Trans-Pacific Partnership.

  • The Scurrilous Campaign

    • Protectionism, a tactic supported by Republicans, was fiercely debated by politicians and condemned by Democrats.