protectionism

American  

[pruh-tek-shuh-niz-uhm] / prəˈtɛk ʃəˌnɪz əm /

noun

1. Economics. the theory, practice, or system of fostering or developing domestic industries by protecting them from foreign competition through duties or quotas imposed on importations.

2. any program, policy, or system of laws that seeks to provide protection for property owners, wildlife, the environment, etc.

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Other Word Forms

• antiprotectionist noun
• protectionist noun
• protectionistic adjective

Etymology

Origin of protectionism

First recorded in 1855–60; protection + -ism

Example Sentences

“Concerns about DJI’s data security have not been grounded in evidence and instead reflect protectionism, contrary to the principles of an open market,” the statement said.

From The Wall Street Journal

There was “a headlong stampede to protectionism and restriction in imports,” in the words of economic historian Charles Kindleberger.

From The Wall Street Journal

"Too many countries are retreating into geopolitical blocs or the battlegrounds of protectionism," he said, but added: "In every rupture resides the responsibility to build -- nostalgia is not a strategy."

From Barron's

Germany and China have long had deep economic ties, but those have frayed in recent times over issues ranging from claims of unfair trade practices to protectionism.

From Barron's

The South Korean government also plans to set up a 50 billion won fund to promote domestic investment in next-generation vehicles aimed at “supporting strategic overseas expansion and overcoming global protectionism,” the office said.

From The Wall Street Journal