Understanding protectionism is kind of new but I feel like this is common sense for countries. You are always going to want to put your country first. With protectionism, you are doing things to help benefit your country within. This could be with quotas and tariffs when exporting. A tariff is a tax imposed on goods entering the country. A quota is a limit on how many goods are coming in. These are known tactics called trade barriers. Basically limiting how many goods are coming in and it is also for health concerns looking for unsanitary things that may not be needed in our country. I have been interested in what kind of products I own thats been made around the world. What’s the most interesting thing you own and where was it made?
Skyler Smith says
Chase,
I found understanding protectionism to be new as well. I have always understood the basic concept of what it was, but I don’t think I have every truly understood everything it encompasses, including things you mentioned like quotas and tariffs. This post actually made me realize that the blog I posted about the production and price of N-95 masks is also related to the idea of protectionism. I definitely should have discussed protectionism in my post, but did not make that connection until just now. In general, I feel like the idea of protectionism is a very controversial topic because obviously a country wants to do what is best for themselves, but sometimes doing so can have repercussions in other ways.