Are protectionist measures affecting globalization?

Since 1990, global trade has increased incomes by 24 percent worldwide, and by 50 percent for the poorest 40 percent of the population. Today, however, protectionist measures are on the rise. And trade tensions and geopolitical challenges are raising concerns about the trajectory of globalization.

What is protectionism & how does it work?

Protectionism is a government-imposed trade policy by which countries attempt to protect their industries and workers from foreign competition. Protectionism is commonly implemented by the imposition of tariffs, quotas on import and exports, product standard, and government subsidies.

How does protectionism affect international trade?

Corbis via Getty Images / Getty Images Protectionism is a type of trade policy by which governments attempt to prevent or limit competition from other countries. While it may provide some short-term benefit, particularly in poor or developing nations, unlimited protectionism eventually harms the country’s ability to compete in international trade.