protectionism definition

protectionism

Governmental policy aimed at shielding a fragile economy, or a week or critical sector, from cheaper or better imports through imposition of high duty rates (tariff barriers), quotas, and/or inordinately stringent or time consuming inspection or quality regulations (non-tariff barriers). All countries practice protectionism in one form or another but, generally, without going to any extreme. See also trade liberalization.

protectionism is in the Economics, Politics, & Society subject.

protectionism appears in the definition of the following term: structural adjustment

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