Word
protectionism
Phoneticspro·tec·tion·ism
US/pɹəˈtɛkʃəˌnɪzəm/
UK/pɹətˈɛkʃənˌɪzəm/
Definition
n. a set of rules or taxes that a country uses to protect its own businesses from foreign competition. This usually makes it harder or more expensive for foreign goods to enter the market.
n. economic policy of restricting through duties or quotas the number of products that are allowed to be imported into a country. Often implemented to shield domestic industries from international competition.
Examples
“The government introduced new tariffs to increase protectionism.”
“Economists debated whether the new protectionism would help local manufacturers or lead to higher prices for consumers.”
“While short-term protectionism may provide a temporary boost to struggling industries, it often results in a trade war that ultimately harms the very sectors it was intended to protect.”
Examples
simple
“The government introduced new tariffs to increase protectionism.”
contextual
“Economists debated whether the new protectionism would help local manufacturers or lead to higher prices for consumers.”
complex
“While short-term protectionism may provide a temporary boost to struggling industries, it often results in a trade war that ultimately harms the very sectors it was intended to protect.”
Real-World Examples
“The turn to protectionism isn’t new; it’s been a feature of our response to Donald Trump’s tariffs from the start.” “Domestic production contributes to food security, but protectionism is not the same as resilience.” Etymology
Borrowed from French protectionnisme, equivalent to protection + -ism.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.
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englishreference.com/q/protectionism