106k views
5 votes
What is protectionism and why would a country base trade policy on it? Explain at least two reasons.

User Singing
by
8.0k points

1 Answer

1 vote
Protectionism is the use of a variety of ways like enacting tariffs, imposing quotas or lowering the country's currency value in order to protect the trade industry in a specific country. It is used by countries when they think that the industries are being affected by unfair competition from international industries.
User Benny Ng
by
7.6k points

No related questions found