Protectionism

protectionisttariff reformprotectioneconomic protectionismprotectprotectionistsprotective tariffsprotectiveprotectionist policiesprotected
Protectionism is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations.wikipedia
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Tariff

tariffscustoms dutyimport duties
Protectionism is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations.
Now, they are among the most widely used instruments of protectionism, along with import and export quotas.

Great Depression

DepressionThe Great DepressionDepression era
Some scholars have implicated protectionism as the cause of some economic crises, most notably the Great Depression.
Frantic attempts to shore up the economies of individual nations through protectionist policies, such as the 1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries, exacerbated the collapse in global trade.

Dumping (pricing policy)

dumpinganti-dumpingantidumping
The Obama administration implemented tariffs on Chinese tires between 2009 and 2012 as an anti-dumping measure; a 2016 study found that these tariffs had no impact on employment and wages in the US tire industry.
Furthermore, advocates for workers and laborers believe that safeguarding businesses against such practices, such as dumping, help alleviate some of the harsher consequences of such practices between economies at different stages of development (see protectionism).

Right-wing populism

right-wing populistpopulistright-wing populists
According to some political theorists, protectionism is advocated mainly by parties that hold far-left, far-right or left-wing economic positions, while economically right-wing political parties generally support free trade.
Right-wing populism in the Western world is generally associated with ideologies such as anti-environmentalism, neo-nationalism, anti-globalization, nativism, and protectionism.

Trade

tradingmercantileexchange
However, they also reduce trade and adversely affect consumers in general (by raising the cost of imported goods), and harm the producers and workers in export sectors, both in the country implementing protectionist policies and in the countries protected against.
This was followed within a few years by the infant industry scenario developed by Mill promoting the theory that government had the duty to protect young industries, although only for a time necessary for them to develop full capacity.

Supply management (Canada)

supply managementDairy cartelprotected dairy market
Since 1971 Canada has protected producers of eggs, milk, cheese, chickens, and turkeys with a system of supply management.
The policy has been described as regressive, protectionist and costly with money transferred from consumers to producers through higher prices on milk, poultry and eggs which some label as a subsidy.

Subsidy

subsidiessubsidizedstate aid
The problem with protectionism arises when industries are selected for nationalistic reasons (Infant-Industry), rather than to gain a comparative advantage.

Benjamin Disraeli

DisraeliLord BeaconsfieldBenjamin Disraeli, 1st Earl of Beaconsfield
In the Ottoman Empire's case, however, it previously had liberal free trade policies during the 18th to early 19th centuries, which British prime minister Benjamin Disraeli cited as "an instance of the injury done by unrestrained competition" in the 1846 Corn Laws debate, arguing that it destroyed what had been "some of the finest manufacturers of the world" in 1812.
Disraeli's political views embraced certain Radical policies, particularly democratic reform of the electoral system, and also some Tory ones, including protectionism.

Friedrich List

List, FriedrichWikiquote - Quotations From List
Friedrich List saw Adam Smith's views on free trade as disingenuous, believing that Smith advocated for freer trade so that British industry could lock out underdeveloped foreign competition.
He famously doubted the sincerity of calls to free trade from developed nations, in particular Britain: Any nation which by means of protective duties and restrictions on navigation has raised her manufacturing power and her navigation to such a degree of development that no other nation can sustain free competition with her, can do nothing wiser than to throw away these ladders of her greatness, to preach to other nations the benefits of free trade, and to declare in penitent tones that she has hitherto wandered in the paths of error, and has now for the first time succeeded in discovering the truth.

Economic liberalism

economically liberalliberaleconomic liberal
In the Ottoman Empire's case, however, it previously had liberal free trade policies during the 18th to early 19th centuries, which British prime minister Benjamin Disraeli cited as "an instance of the injury done by unrestrained competition" in the 1846 Corn Laws debate, arguing that it destroyed what had been "some of the finest manufacturers of the world" in 1812.
It also contrasts with protectionism because of its support for free trade and open markets.

Paul Bairoch

Bairoch, Paul
Economic historian Paul Bairoch wrote that "historically, free trade is the exception and protectionism the rule".
In contrast to the protectionism of China, Japan, and Spain, the Ottoman Empire had a liberal trade policy, open to foreign imports.

Donald Trump

TrumpPresident TrumpPresident Donald Trump
Since then, however, President Donald Trump announced in January 2017 the U.S.
His political positions have been described as populist, protectionist, and nationalist.

Ottoman Empire

OttomanOttomansTurks
The Ottoman Empire also became increasingly protectionist.
In contrast to the protectionism of China, Japan, and Spain, the Ottoman Empire had a liberal trade policy, open to foreign imports.

Free trade

trade liberalizationfree-tradetrade liberalisation
According to some political theorists, protectionism is advocated mainly by parties that hold far-left, far-right or left-wing economic positions, while economically right-wing political parties generally support free trade. In the Ottoman Empire's case, however, it previously had liberal free trade policies during the 18th to early 19th centuries, which British prime minister Benjamin Disraeli cited as "an instance of the injury done by unrestrained competition" in the 1846 Corn Laws debate, arguing that it destroyed what had been "some of the finest manufacturers of the world" in 1812. Friedrich List saw Adam Smith's views on free trade as disingenuous, believing that Smith advocated for freer trade so that British industry could lock out underdeveloped foreign competition. There is a consensus among some economists that protectionism has a negative effect on economic growth and economic welfare, while free trade, deregulation, and the reduction of trade barriers has a significantly positive effect on economic growth.
In government, free trade is predominantly advocated by political parties that hold liberal economic positions while economically left-wing and nationalist political parties generally support protectionism, the opposite of free trade.

Mercantilism

mercantilistmercantilemercantilists
Historically, protectionism was associated with economic theories such as mercantilism (which focused on achieving positive trade balance and accumulating gold), and import substitution.
, the word "mercantilism" remains a pejorative term, often used to attack various forms of protectionism.

Import substitution industrialization

import substitutionimport substitution industrialisationimport-substitution
Historically, protectionism was associated with economic theories such as mercantilism (which focused on achieving positive trade balance and accumulating gold), and import substitution. Proponents claim that protectionist policies shield the producers, businesses, and workers of the import-competing sector in the country from foreign competitors.
The new economic consensus blamed the low growth rates on over-protectionism in the industrial sector, as well as a neglect of exports and low agricultural productivity.

Frédéric Bastiat

Frederic BastiatBastiatblock out the sun
According to a slogan of Frédéric Bastiat (1801–1850), "When goods cannot cross borders, armies will."
Economist Murray Rothbard wrote that "Bastiat was indeed a lucid and superb writer, whose brilliant and witty essays and fables to this day are remarkable and devastating demolitions of protectionism and of all forms of government subsidy and control. He was a truly scintillating advocate of an unrestricted free market".

Protectionism in the United States

protectionismprotectionistprotect
Protectionism in the United States is protectionist economic policy that erected tariff and other barriers to trade with other nations.

Paul Krugman

Paul R. KrugmanKrugmanKrugman, P.
The Nobel laureates, Milton Friedman and Paul Krugman, have argued for free trade as a model for economic development.
In this period Krugman critiqued various positions commonly taken on economic issues from across the political spectrum, from protectionism and opposition to the World Trade Organization on the left to supply-side economics on the right.

Economic nationalism

economic nationalisteconomic independenceEconomic patriotism
Economic nationalism is disputed as the doctrine of mercantilism, and as such favors protectionism.

Smoot–Hawley Tariff Act

Smoot-Hawley Tariff ActTariff Act of 1930Smoot-Hawley Tariff
The Tariff Act of 1930 (codified at ), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, was a law that implemented protectionist trade policies in the United States.

World Trade Organization

WTOWTrOWorld Trade Organisation
Since the end of World War II, it has been the stated policy of most First World countries to eliminate protectionism through free trade policies enforced by international treaties and organizations such as the World Trade Organization Certain policies of First World governments have been criticized as protectionist, however, such as the Common Agricultural Policy in the European Union, longstanding agricultural subsidies and proposed "Buy American" provisions in economic recovery packages in the United States.
The conflict between free trade on industrial goods and services but retention of protectionism on farm subsidies to domestic agricultural sectors (requested by developed countries) and the substantiation of fair trade on agricultural products (requested by developing countries) remain the major obstacles.

Tariff Reform League

Tariff Reformtariff reform movementtariff reformer
The Tariff Reform League (TRL) was a protectionist British pressure group formed in 1903 to protest against what they considered to be unfair foreign imports and to advocate Imperial Preference to protect British industry from foreign competition.

2002 United States steel tariff

steel tariffs2002 steel tariffstariff on imported steel
The Bush administration implemented tariffs on Chinese steel in 2002; according to a 2005 review of existing research on the tariff, all studies found that the tariffs caused more harm than gains to the US economy and employment.
The early withdrawal of the tariffs also drew political criticism from steel producers and supporters of protectionism.

Voluntary export restraint

Voluntary Export Restraintsimport quotasvoluntary restraint agreement
Typically VERs arise when industries seek protection from competing imports from particular countries.