protectionism

(noun)

The term is mostly used in the context of economics, where it refers to policies or doctrines that protect businesses and workers within a country by restricting or regulating trade with foreign nations.

Related Terms

(noun)

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

Related Terms

Examples of protectionism in the following topics:

  • The World Trade Organization (WTO)

    • The conflict between free trade on industrial goods and services, but retention of protectionism on farm subsidies to the domestic agricultural sector (requested by developed countries) and the substantiation of the international liberalization of fair trade on agricultural products (requested by developing countries) remain the major obstacles.

  • Trade and Globalization

    • As of June 2012, the future of the Doha Round remains uncertain: The conflict between free trade on industrial goods and services, but retention of protectionism on farm subsidies to the domestic agricultural sector (requested by developed countries) and the substantiation of the international liberalization of fair trade on agricultural products (requested by developing countries) remain the major obstacles.