Definition

1. Noun:
   • An economic policy: "protectionism" refers to a government policy of imposing tariffs, quotas, or other restrictions on imported goods to shield domestic industries from foreign competition.

Usage

• "Protectionism" is used to describe a national economic strategy. It is typically discussed in contexts of international trade, economics, and politics.
• It is often contrasted with free trade policies.

Examples

• Noun:
  • The government's move toward protectionism worried international trading partners.
  • Many economists argue that protectionism can lead to trade wars and higher prices for consumers.

Advanced Usage

• "Economic protectionism": a more specific term emphasizing the policy's economic nature.

  • The debate centered on the merits of economic protectionism versus global free trade.

• "Rising protectionism": describes an increasing trend of adopting such policies.

  • There are concerns about rising protectionism in the global market.

Variants and Related Words

• Protectionist (adj): relating to or advocating for protectionism.

  • The senator made a protectionist argument for the new tariffs.

• Protectionist (n): a person who supports protectionism.

  • The candidate was a known protectionist.

Synonyms

• Trade barrier policy: a policy that creates obstacles to international trade.
• Economic nationalism: an ideology prioritizing domestic control of the economy, often through protectionist measures.

Antonyms

• Free trade: a policy of minimal government interference in international trade.
• Liberalization: the removal or reduction of restrictions or barriers.

Related Phrases

• "A wave of protectionism": a period where many countries adopt protectionist policies.

  • The global recession triggered a wave of protectionism.

• "Protectionist measures": the specific actions (like tariffs or quotas) taken to implement the policy.

  • The new protectionist measures were aimed at the automotive industry.

Noun

1. the policy of imposing duties or quotas on imports in order to protect home industries from overseas competition