protective tariffs
Domestic industry shields
Protective tariffs are taxes on imported goods designed to shield domestic industries from foreign competition.
By raising the price of imports, they make locally produced goods more attractive to consumers.
The term distinguishes tariffs meant to protect home industries from revenue tariffs, which primarily aim to generate government income: The steel industry lobbied for protective tariffs against cheaper Chinese imports.
- quota systemLimit on numbers admitted
- import taxLevy on incoming goods
- mercantilismTrade policy favoring exports
- manufacturing baseProduction facilities collectively
- domestic productionCreating goods within one's country
trade barriers · unfair trade · customs duty · border tax · embargo · economic nationalism · import substitution · Smoot-Hawley · industrial policy · free trade agreement · trade wars · lobbying · global supply chains · economic sanctions · trade negotiations · WTO · level playing field · most favored nation
protective tariffsfree trade
Unrestricted international exchange
open markets · free trade agreements · duty-free imports · tariff reduction · NAFTA
protective tariffslaissez-faire
Noninterference in commerce
globalization · neoliberalism · comparative advantage · laissez-faire economics · deregulation
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