What do you understand by economic protectionism?

Economic Protectionism

Economic protectionism refers to the attempts by governments of particular countries to impose certain restrictions on trade of goods and services across their boarders. Economic protectionism can be achieved through measures such as the imposition of import tariffs, which will mostly depend upon the situation of the economy.  A country in great need of a particular commodity will rather lower the rate of tariffs charged on imported goods in order to encourage importation of a given commodity. On the contrary, a country that is in least need of a given commodity or produces the commodity locally will raise the rates of import tariffs for the particular product to discourage importation of the commodity (Korber 2000, p. 10).
Let's make that grade!
Grademiners.com Coupons