Protectionism is the national trade policy of restricting imports in order to protect domestic industries and jobs from foreign competition. Protectionist trade policies can be a response to unfair trade practices by other countries, such as flooding international markets with goods below cost (dumping) and manipulating their currency to make their exports cheaper than competitors.

Many analysts have interpreted Trump’s protectionist stance, and the United States’ imposition of tariffs, as economically irrational. If the liberal motto was once that “under free trade everybody wins”, it is now logical to think that, under protectionism, everyone will lose. It would also mean the end of globalization, which would come at a great economic cost for the US.

Free Trade increases prosperity for Americans—and the citizens of all participating nations—by allowing consumers to buy more, better-quality products at lower costs.

Globalization is the connection of different parts of the world resulting in the expansion of international cultural, economic, and political activities. It is the process by which businesses and other organizations develop international influence or start operating on an International Scale.

International means between or involving different countries. It is facilitated by the Globalization Phenomenon, which increasingly erases the constraints of geography on economic, social and cultural arrangements.