Topic > Protectionism: Strengths and Limitations of…

The United States still has a military presence around the world and we need to take measures to protect the production of new equipment. It is a matter of national security to be self-sufficient in this area to prevent other countries from knowing more information about our equipment. We also need to remain diversified in the types of local industries. Specializing too much and relying on other countries could represent a dangerous risk. When new industries are introduced, trade barriers help ensure that these businesses establish themselves domestically rather than allowing foreign competition to quickly overtake the new industries. Reprotecting foreign countries that create monopolies by selling goods cheaper than other countries can produce them is a top priority for many nations. Trade barriers also protect against the risk of cheap foreign labor flooding the market and increase employment domestically. Tariffs generate additional revenue for the federal government, which benefits the economy. Overall, trade barriers, including tariffs, quotas, and subsidies, provide the protection needed to keep a country healthy