Protectionism

Nations have engaged in protectionism—erecting tariffs and other barriers to curb imports and shield domestic farms, factories, and businesses from foreign competition—for hundreds of years. But since the end of World War II, the United States and its allies have sought to encourage cooperation and raise living standards by lowering these barriers through reciprocal trade and investment agreements. More recently, political, economic, and security concerns have prompted the US and many countries to revive protectionist practices. The Peterson Institute has tracked, studied and documented this trend in the US and throughout the world.