For strategic trade protectionism to be effective, the:

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Strategic trade protectionism is typically utilized to address a country's concerns over maintaining or increasing its competitiveness in a given industry on the global stage. This involves imposing tariffs or other forms of trade protection on foreign imports in order to increase the domestic demand (and thus, profitability) for domestically-produced goods. For this approach to work, the supply of the good in question must be inelastic. This means that even if the price increases due to import restrictions, consumers would still demand the good because it is considered as a necessity or essential item. If the supply were elastic, then increases in price would lead to a significant reduction in demand, thus limiting the effectiveness of protectionism.

For Strategic Trade Protectionism to Be Effective, The