COmment on post as soon as possible thanks Like many other actions there are bot

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COmment on post as soon as possible thanks

Like many other actions there are both advantages and disadvantages to implementing policies especially when it pertains to the government and international trade. Despite the benefits of free-trade sometimes governments may intervene in trade to attain economic, social or political objectives. Using protectionism to influence international trade can limit unfair competition from foreign industries but in the long term may decrease its competitiveness in international trade. Sometimes when a country is trying to develop a new industry protectionism such as tariffs can aid in protection of foreign competitors. Besides being able to gain a competitive advantage it also can create temporary jobs for domestic workers. Likewise, in the long term protectionism can weaken industries leading to a decline in the quality of domestic products. I think that protectionism when implemented short term under the right circumstances may be beneficial to certain industries. For example, the Smoot-Hawley Tariff of 1930 was designed to protect farmers from agricultural imports from Europe, which was intended to step up farming after the destruction of World War I. Unfortunately, due to the amount of time it took Congress to pass the bill, other tariffs had been placed on many more imports which resulted in other countries retaliated creating a trade war that restricted global trade.

Explanation / Answer

When implementing any economic policy timing is a very important factor . Time lags in implementation of any policy may alter the desired results . In case on international trading policies that same thing is applicable . Protectionism attitude helps a country to avoid dumping and other fallacies of global trade . Also it helps to protect infant industries from rigorous global competition . But all this is only possible when protectionist policies are implemented at right time and for correct duration .

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