protectionism
/prəˈtɛkʃəˌnɪzəm/
noun
- The practice of protecting a country's industries from foreign competition by taxing imports or limiting trade.
- The steel industry benefited from the new protectionism policies.
- The government's protectionism raised prices on imported cars.
- Many economists argue that protectionism hurts consumers in the long run.
Antonyms