Answer:
1. Protecting Domestic Industries
2. Reducing Trade Imbalances:
Step-by-step explanation:
1. protecting Domestic Industries: Protectionists argue that tariffs can safeguard domestic industries from foreign competition. By imposing tariffs, they make imported goods more expensive, giving domestic industries a competitive advantage. This protection is seen as necessary to preserve jobs, maintain industrial growth, and protect the economy from being overly reliant on foreign goods.
2. Reducing Trade Imbalances: Protectionists often advocate for tariffs as a means to address trade imbalances, particularly when a country's imports significantly outweigh its exports. They believe that by imposing tariffs on foreign goods, the cost of imports will rise, making domestically produced goods comparatively more attractive to consumers. This can help reduce the trade deficit and protect the domestic economy from the adverse effects of excessive imports.