protektionismi

Protectionism, or protektionismi in some languages, is the economic policy of restricting international trade to protect domestic industries from foreign competition. It relies on measures such as tariffs, import quotas, subsidies to domestic producers, and regulatory barriers to entry.

Historically, protectionism has been rooted in mercantilist ideas and industrial policy. Proponents argue it preserves jobs, protects strategic sectors, and allows infant industries to mature. Critics say it reduces competition, raises prices for consumers, and invites retaliation that can diminish overall welfare.

Common instruments include tariffs, import quotas, export subsidies, domestic content requirements, anti-dumping duties, and non-tariff barriers such as licensing, standards, and technical regulations.

From a trade theory perspective, protectionism can distort comparative advantages and reduce efficiency; however some interventions may be temporary or strategically justified in specific sectors or during crises.

Modern protectionist policies operate within international trade rules under the World Trade Organization framework and regional agreements, which permit certain safeguards while restricting discrimination. Protectionism tends to rise during economic shocks or when policymakers view supply security as a priority.