Question

Mention
any one
problem created
by protectionism​

Answer 1

Explanation:

Tariffs Make Consumers Poorer. Tariffs have the effect of discouraging consumers from buying foreign products by raising the price. ...

“Dumping” Is a Term that Translates to “Inexpensive Goods for Consumers” ...

Protectionism Means the Government Picks Winners and Losers.

You can choose anyone who you understand better.

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Answer 2

Explanation:

1)Loss of economic welfare:

Tariffs create a deadweight loss of consumer and producer surplus. Welfare is reduced through higher prices and restricted consumer choice. The welfare effects of a quota are similar to those of a tariff – prices rise because an artificial scarcity of a product is created.

2)Extra costs for exporters: For goods that are produced globally, high tariffs and other barriers on imports act as a tax on exports, damaging economies, and jobs, rather than protecting them

3)Regressive effect on the distribution of income: Higher prices from tariffs hit those on lower incomes hardest, because the tariffs (e.g. on foodstuffs, tobacco, and clothing) fall on products that lower income families spend a higher share of their income.