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Hello.
Forgive my ignorance.
I don't understand protectionism. No, I'm not saying it's good or bad. I simply don't know what it is. Please explain it to me, this feels like the perfect place to ask.
post scriptum: explain like you're talking to a 2 year old, expect stupidity
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restrictions on international trade in order to protect local industries and workers, through tariffs, import/export restrictions, etc
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>>2069329
I guess you could say its an economic policy that focuses on protecting domestic industry usually at the expense of free trade
A good example are tariffs. Imported products are taxed at the border making them more expensive compared to domestic products and thus less competitive.
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>>2069352
That's not what an embargo is but essentially yes.
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>>2069378
thanks a lot :)
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