Topics

Creeping Protectionism

Creeping protectionism refers to the gradual introduction of protectionist policies, such as tariffs and quotas, that limit the flow of goods and services across national borders. It can happen slowly over time, often without attracting much attention or controversy. For example, a government might increase tariffs on a small number of products, and then gradually expand the number of products subject to tariffs. Or it might start by imposing quotas on a few products, and then gradually lower the quota thresholds, making it harder for foreign goods to enter the country.

The goal of creeping protectionism is often to protect domestic industries and jobs, but it can also harm the economy by reducing competition and innovation, and ultimately leading to higher prices for consumers.

See also

© 2002-2024 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.