The establishment of the WTO,the passage of NAFTA,and the creation of the Euro are examples of protectionism on the part of nations concerned with increased globalization of the marketplace.

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The establishment of the WTO, the passage of NAFTA, and the creation of the Euro are examples of free trade agreements that seek to reduce barriers to trade and promote globalization of the marketplace. Protectionism, on the other hand, refers to the use of government policies such as tariffs and subsidies to protect domestic industries from foreign competition.

The Establishment of the WTO,the Passage of NAFTA,and the Creation