1. Protectionism vs. Free Trade

2. Motivation
“Protectionism is the ally of isolationism, and isolationism is the Dracula of American foreign policy.”
William G Hyland

3. The idea that we should limit trade to protect our self-interest.
Protectionism
The idea that we should limit trade to protect our self-interest.

4. Tariffs
A tax on imports.

5. Protective Tariffs
Tariffs used to limit international trade in order to protect a country’s own interest.
Usually an elastic demanded product.

6. Revenue Tariffs
Tariffs that are used primarily to raise money for the government.
Usually an inelastic demanded product.

7. Quota
A limit on the number of imports and exports.

8. Embargoes
When a country halts the export and import of a product or a group of products to or from another country.

9. Standards
A requirement that foreign goods meet a certain stiff requirement.

10. Subsidy
A payment made by the government to encourage some activity (opposite of a tax).

11. Price Ramification
Graphing the use of protectionism.