🛡️protectionism

Meaning

The theory or practice of shielding a country's domestic industries from foreign competition by taxing imports.

A trade policy that restricts imports to safeguard domestic industries through trade restriction, economic nationalism, or isolationism.

Example Sentences

The government's protectionism helped local businesses grow.

The government imposed protectionism to safeguard local businesses.

Synonyms

trade restriction, tariff policy, economic isolation, economic nationalism, isolationism

Entry 1

trade restriction, tariff policy, economic isolation

Entry 2

trade restriction, economic nationalism, isolationism

Antonyms

free trade, liberalization, globalization, open markets

Entry 1

free trade, liberalization, globalization

Entry 2

free trade, globalization, open markets