Protectionist Trade Policy

One argument in favor of protectionist trade policy is that it can protect domestic industries from unfair competition and prevent job losses.

One argument against protectionist trade policy is that it can lead to retaliatory actions from other countries, resulting in trade wars and decreased global economic growth.

The purpose of protectionist trade policy is to shield domestic industries from foreign competition and to promote the growth of domestic industries.

<p>The argument in favor of protectionism trade policy is that it can protect domestic industries from foreign competition, create jobs, and prevent the loss of important industries to other countries.</p> Signup and view all the answers

<p>The argument against protectionism trade policy is that it can lead to higher prices for consumers, reduce global trade and economic growth, and result in retaliation from other countries, leading to trade wars.</p> Signup and view all the answers

<p>The potential consequences of protectionism trade policy include higher prices for consumers, reduced global trade, retaliation from other countries, and the risk of trade wars.</p> Signup and view all the answers