Protectionism is used by the members of the European Union to restrict business and government procurement of goods and services from foreign competition.

Question

Quizplus · Accepted Answer

Protectionism refers to economic policies and practices designed to restrict international trade and protect domestic industries from foreign competition. Within the European Union, while there is a general commitment to free trade among member states, protectionist measures can still be applied, particularly in sectors deemed sensitive or strategic, including through government procurement policies that may favor domestic companies or products.

Protectionism Is Used by the Members of the European Union