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You are the part of International Trade Organization representing the interest of a third world country....

You are the part of International Trade Organization representing the interest of a third world country. Discuss the arguments for trade restrictions under protectionist policy. Justify with substantial reasoning.

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Answer #1

The trade restrictions under protectionist policy are -

  • one of the main argument of trade restrictions is that it serves as a buffer to protect the domestic industries.
  • Second argument is the job protection. Due to the trade it results in reduction of jobs within the country.
  • National security - The another argument is that domestic industries themselves want to protect fron the foregin industries. They donot want to compete themselves with them
  • infant or news industries - The another argument of trade restriction is for the infant industries who have just step in and want to grow . They need to be protected untill they sustain themselves.
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