Free trade and Protectionist
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.
- 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
- European Union ( EU)
- Association of Southeast Asian Nations