The political call for tariffs and favourable treatment to help shelter domestic businesses from foreign competition is known as ___.

Question

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Protectionism refers to the practice of using tariffs, quotas, and other trade barriers to protect domestic businesses from foreign competition. It is the opposite of free trade, which advocates for open trade and minimal government intervention in markets. Restrictive trade and import regulations can be seen as subcategories of protectionism. Export agreements, on the other hand, refer to trade deals that encourage and facilitate exports of goods and services.

The Political Call for Tariffs and Favourable Treatment to Help