Opinion on Protectionism

In my vision, protectionism cannot be undertaken in all cases; however, there might be a situation when I would be in favor of adding tariffs to imports. At times, foreign production starts permanently substituting domestic supply and hindering the distribution and development of internal products. It usually happens due to the high quality of import production and low state of the art of the country. In this case, domestic businesses are in severe economic conditions and cannot develop, so as the country’s economy.

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Protectionism might ease the burden of inner manufacturers and create a foundation for economic growth as there would be fewer foreign products and more domestic ones for consumers to buy. The enterprises would have more profit margins and opportunities to improve. As a result, the quality of internal production would also get better after some time, as well as its international competitiveness, which would make the necessity of protectionism irrelevant in the aftermath.

However, it should be mentioned that consumers would suffer from such a policy. During the period of protectionism, they would be forced to buy and consume products and services of the lower quality if to compare with an external supply.

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StudyCorgi. (2021, June 22). Opinion on Protectionism. Retrieved from https://studycorgi.com/opinion-on-protectionism/

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"Opinion on Protectionism." StudyCorgi, 22 June 2021, studycorgi.com/opinion-on-protectionism/.

1. StudyCorgi. "Opinion on Protectionism." June 22, 2021. https://studycorgi.com/opinion-on-protectionism/.


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StudyCorgi. 2021. "Opinion on Protectionism." June 22, 2021. https://studycorgi.com/opinion-on-protectionism/.

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StudyCorgi. (2021) 'Opinion on Protectionism'. 22 June.

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