Protectionism
/prəˈtɛkʃəˌnɪzəm/
Definitions
- (n.) A legal and economic policy favoring domestic industries by restricting foreign competition through tariffs, quotas, or regulations.
The government's protectionism led to higher tariffs on imported goods to support local manufacturers.
Related terms
See also
Commentary
In legal drafting, clarity about the specific measures constituting protectionism ensures precise regulatory or contractual language, as it encompasses various trade restrictions with distinct legal implications.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.