Business

Sherlyn Sosa

22 January, 21:09

Or placing trade restrictions on other countries to shield domestic industries from

competition, takes many forms.

are taxes imposed on imported goods and services.

place limits on the amount of a good that can be imported from a particular country.

Early in the twentieth century, the United States imposed

Y agricultural

goods. While this measure protected US farmers, it caused European governments to impose

tariffs

on US products. Heavy tariffs on imports led to a drastic decline in international trade, which further weakened the

global economy and aggravated the Depression.

Today, some US workers believe the government should

protectionism to protect their industries from

foreign competition and prevent job

in the United States. This thought is shared by

some business owners as well.