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Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations.
Protectionist measures included tariffs and quotas on imported goods, along with subsidies and other means, to restrain the free movement of imported goods, thus encouraging local industry. There was a general lessening of protectionist measures from the 1930s onwards, culminating in the free trade period that followed the Second World War.
The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, [1] was a law that implemented protectionist trade policies in the United States.
Lighthizer was one of the leading figures in Trump's trade war with China and the renegotiation of the North American Free Trade Agreement, or NAFTA, with Mexico and Canada during his first term.
“The European side’s reckless distortion of the definition of subsidies, and the lack of openness and transparency in procedural standards during the investigation, is a protectionist act that ...
“To take a protectionist stand against a country like China, that has a comparative advantage in producing the non-carbon alternative energy products that a world in the grips of climate change ...
The United States pursued a protectionist policy from the beginning of the 19th century until the middle of the 20th century. Between 1861 and 1933, they had one of the highest average tariff rates on manufactured imports in the world. After 1942, the U.S. began to promote worldwide free trade.
Another trend that Trump has helped spark is the rise of protectionist measures around the world, after two decades of globalization. That has led to a scramble by multinational corporations to ...