Protectionist policies refer to government measures that aim to protect domestic industries and businesses from foreign competition by imposing barriers such as tariffs, quotas, and subsidies.
Related terms
Tariffs: Tariffs are taxes imposed on imported goods, making them more expensive than domestically-produced goods.
Quotas: Quotas are limits set by the government on the quantity or value of certain goods that can be imported.
Subsidies: Subsidies are financial assistance provided by the government to domestic industries or businesses to help them compete with foreign counterparts.