Trade Protection (Noun)
Meaning
The imposition of duties or quotas on imports in order to protect domestic industry against foreign competition; "he made trade protection a plank in the party platform".
Classification
Nouns denoting acts or actions.
Examples
- The government imposed trade protection measures to safeguard the domestic manufacturing sector from cheap imports.
- The economist argued that trade protection policies often lead to higher prices and reduced consumer choice.
- The politician's proposal for increased trade protection was met with skepticism by international trade experts.
- The country's trade protection laws were criticized for being overly restrictive and damaging to international trade relations.
- The company lobbied for trade protection to prevent foreign competitors from undercutting their prices.