Are there industries the U.S. government should protect with tariffs to discourage foreign competition? If so, give at least one example, and explain why it should be protected. If not, explain why protectionism is never appropriate
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Are there industries the U.S. government should protect with tariffs to discourage foreign competition? If so, give at least one example, and explain why it should be protected. If not, explain why protectionism is never appropriate
Protectionism is the policy of protecting the domestic industries against foreign competition by the means of tariffs, subsidies, import quotas, or some other type of restrictions or handicaps placed on the imports of foreign competitors. Protectionist policies have been implemented by most of the countries even though the world economy generally benefits from free trade.
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