Protectionism
/prəˈtekʃənɪzəm/noun
A policy of protecting domestic industries from foreign competition by taxing imports.
The government's current policy of trade protectionism could hurt foreign relations.
Often appears as...
- support protectionism
- pursue protectionism
Usage tips
Formal
Political
Definition 1 of 1
Pro Tip 1/3Economic Focus
Protectionism is associated with economic policies and decisions, so it's frequently discussed in business and trade contexts.
Protectionism can lead to higher prices for consumers as imports become more expensive.
Pro Tip 2/3Government Role
This term often appears when talking about government measures or strategies aimed at regulating trade.
The new government promised to reduce protectionism to attract more foreign investments.
Pro Tip 3/3International Relations
Protectionism can impact how countries interact and negotiate trade agreements with one another.
Some countries voiced concerns over the rising protectionism.
Compare with
isolator
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