broader protectionist approach

Language: en

📖 Definitions

  1. A general economic or political strategy characterized by the implementation of measures such as tariffs, quotas, and subsidies to shield domestic industries from foreign competition.; An expansion of traditional trade barriers beyond specific sectors to encompass a wider range of goods, services, or investment flows, often driven by national security or industrial policy concerns.

💬 Examples

  1. Critics argue that a broader protectionist approach will ultimately lead to higher prices for consumers and reduced global trade efficiency.

  2. The shift toward a broader protectionist approach has been evident in recent legislation targeting both agricultural products and high-tech manufacturing.