What is another word for trade protection?
Pronunciation: [tɹˈe͡ɪd pɹətˈɛkʃən] (IPA) 
Trade protection refers to government policies that aim to safeguard domestic industries and businesses from foreign competition. The use of trade protection measures such as tariffs, subsidies, and quotas has been a contentious issue in international trade. Synonyms for trade protection include protectionism, economic nationalism, import substitution, and mercantilism. Protectionism refers to the use of trade barriers to limit the import of goods from foreign countries. Economic nationalism emphasizes the protection of domestic industries and businesses to strengthen the national economy. Import substitution involves the reduction of imports in favor of domestic production and consumption. Mercantilism involves maximizing exports and limiting imports to protect the national economy. These concepts reflect different ideological beliefs about how to best protect domestic industries and businesses.
