neomercantilism

American

[nee-oh-mur-kuhn-ti-liz-uhm, -tee-, -tahy-] / ˌni oʊˈmɜr kən tɪˌlɪz əm, -ti-, -taɪ- /

noun

an economic doctrine or policy during the early 20th century that set high tariffs and other import restrictions in order to protect domestic industries.

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Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023