Answer :
Protectionism is the practice of defending domestic industries against foreign competition by the imposition of tariffs, subsidies, import quotas, and other barriers to their products.
The economic policy of limiting imports from other countries through means such as tariffs on imported goods, import quotas, and a range of other governmental regulations is known as protectionist, also known as trade protectionism.
In essence, it amounts to government protection of American manufacturers who are given preference over other producers—as well as American consumers. For two reasons, cronyism in the guise of protectionism is especially heinous. It conceals itself by claiming falsely that foreigners are responsible for covering its expenses. Additionally, it spreads the myth that trade is comparable to a conflict.
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