protectionism in a sentence
n.
📚 Grade Level: Grade 10, Grade 11, Grade 12
Definition
Protectionism is an economic policy that restricts imports through tariffs and quotas to protect domestic industries from foreign competition.
Sample Sentences
- Protectionism can lead to trade wars that ultimately harm consumers and producers alike.
- Many economists argue that protectionism stifles competition and innovation in the long run.
- The government's recent move towards protectionism has sparked debates about its effects on global trade relations.
- Supporters of protectionism believe it is necessary to safeguard domestic industries from foreign competition.
- Critics warn that excessive protectionism can result in higher prices for consumers and limited choices in the marketplace.