Trade protection in international trade refers to the implementation of policies or measures by a country to restrict or regulate the flow of imported goods and protect domestic industries from competition. These measures can include tariffs, quotas, subsidies, and other barriers that make it more costly or difficult for foreign goods to enter a country's market.
While trade protection can benefit domestic industries by shielding them from competition and providing them with a competitive advantage, it can also result in higher prices for consumers, reduced consumer choice, and retaliatory measures from other countries. Therefore, trade protection should be used judiciously and in accordance with international trade rules to ensure fair and transparent trading practices.
Define trade protection with respectful international trade ?
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