Protectionism is a government or
economic policy that does not allow foreign or international trade through methods
and variety of government regulations outlined to promote fair competition with
the goods and services made domestically. Business and workers were protected
within a country through regulating or obstructing trade with different
countries.
A country should base trade policy for
two reasons. 1.) It protects local businesses and jobs. 2.) It promotes fair competition on the local
goods and services.
