What is wrong, if anything, about protectionism?

[Nikki1989]

Updates

13 d

Economists generally view long‑term, broad protectionism as harmful, so what is your take on that?

[purplepoppy]

A few years ago Trump wanted to flood the UK with cheap mass produced meat. It would have destroyed the UK farming industry leaving us totally dependent on the USA. Our government fearing civil unrest and well aware plans were a foot to destroy imports by burning down warehouses etc wisely chose protectionism.

There's nothing wrong with it when done for the right reason. The problem is when there's no real reason to protect and its done purely to damage other countries. You end up destroying relationships and trust leading to less mutual trade.

[Crimsyjo]

Ohh it really is 50/50! I think as a consumer it sounds simple to say its bad because it drives prices up and I'd like to buy cheaper imported things, which also aids countries in building their own economy. But from a politics viewpoint if cheaper imports destabalises the countries markets and jobs then they are looking at it objectively and long term and I think that's the right thing to do because many people (like myself) don't consider those impacts and someone has to! No point cheaper goods if we all end up broke and can't buy them anyways.

[loveslongnails]

I believe a certain amount of protectionism is good, in specific cases, and for the right reasons. It's a global economy now, BUT... there's still things should be guarded on local and national levels. This doesn't just mean goods and services either, as there are other considerations, like the environment.

[juliammm]

Look at the "Evolution of the Number of Chemical Elements Used by Industry"

You will see how fast this is growing. The more elements, the more dependencies!

So protectionism is stupid. It goes against natural progress.

[AngryCarl3]

Protectionism is like you're running a shop and you have a sign in your window saying "Go away". Nobody wants to do business with you.

[_Jenny_]

@Nikki1989 I tend to disagree