free trade vs. protectionism

Free trade refers to an economic policy that promotes the exchange of goods and services between countries without imposing significant barriers or restrictions, such as tariffs or quotas. It aims to increase international trade, foster global cooperation, and promote economic growth. Protectionism, on the other hand, is an economic policy that implements measures to shield domestic industries from foreign competition by imposing trade barriers such as tariffs, subsidies, or import quotas. It prioritizes protecting local industries, jobs, and national interests over global economic integration.

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