Governments restrict foreign trade to

Question

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Governments restrict foreign trade to protect domestic producers from foreign competition. This is known as protectionism and is intended to promote domestic industries and jobs by limiting the amount of foreign goods that can enter the country. This can be done through tariffs, quotas or regulations that make it harder or more expensive for foreign producers to sell their products in the domestic market. By doing so, domestic industries are able to maintain market share without facing stiff competition from foreign companies.

Governments Restrict Foreign Trade to