How Does Free Trade Differ from Protectionism?


The difference between free trade and protectionism is that protectionism is done when a nation or country takes a step into developing and living of their own without trading with other nations. In the other hand, free trade is done by a country that chooses to trade between several countries. Countries can decide weather to be use free trade or protectionism.
Q&A Related to "How Does Free Trade Differ from Protectionism"
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Free trade, also called laissez-faire is a policy by which a
Free Trade is trade between nations without protective customs, while protectionism means placing of duties or quotas on imports to protect local industries. report this answer. Updated
Protectionism is when a country decides to stop trading with other nations and tries to become completely independent this however is a big mistake since it will not achieve an ideal
1 Additional Answer Answer for: differences between free trade and protectionism
The Differences Between Free Trade and Protectionism
The global economy is set to decline for the first time since World War II. Economists have engaged in a lively debate over the benefits and pitfalls of free trade and protectionism. Many economies have adopted free-trade policy, or an economy in which... More »
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