Free trade and Protectionist

Jamia Anderson

Free trade and protectionist definition

  • free trade is a international trade in natural courses without tariffs, quotas, and embargo's.
  • Protectionist is a country domestic industries from foreign competition by taxing imports.

Trade Barriers

  • tariffs - makes things expensive to buy.
  • Quota- limits the number of certain products.
  • Embargo- ban one or more products .
  • Standards- lowering a companys production.

Protection of National Security

  • many governments protect domestic industries.

Protection of '' Infant" Industries

  • New companies to become skilled and more efficient to compete with other imports.

Protection of jobs

  • protecting American Jobs during debates.

Three Free Trade Organizations

  • NAFTA
  • European Union ( EU)
  • Association of Southeast Asian Nations