Question

Write a detailed nite on the trade vs. Protectionism

Answer 1

Answer:

Trade protectionism is a policy that protects domestic industries from unfair competition from foreign ones. The four primary tools are tariffs, subsidies, quotas, and currency manipulation. Protectionism is a politically motivated defensive measure.

• Free trade is good for consumers. It reduces prices by eliminating tariffs and increasing competition. In principle, this will make goods and services cheaper.
• In contrast, protectionism can result in destructive trade wars that increase costs and uncertainty as each side attempts to protect its own economy.