World History – 1400 to Present
Protectionist policies are government measures aimed at restricting international trade to protect domestic industries from foreign competition. These policies can take various forms, such as tariffs, import quotas, and subsidies, all designed to shield local businesses and promote national economic interests. By reducing reliance on imported goods and encouraging local production, protectionist policies play a significant role in shaping the mercantilist economy, where national power and wealth are closely tied to a favorable balance of trade.
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