What are the different types of protectionist measures?

There are several different types of protectionist measures that countries can implement to protect their domestic industries and markets. These measures include:

1. Tariffs: Tariffs are taxes or duties imposed on imported goods, making them more expensive and less competitive compared to domestic products. Tariffs aim to discourage imports and protect domestic industries from foreign competition.

2. Quotas: Quotas are limits on the quantity of goods that can be imported into a country. By restricting the amount of foreign goods allowed into the domestic market, quotas aim to protect domestic industries from foreign competition and maintain market share.

3. Subsidies: Subsidies are financial assistance provided by the government to domestic industries, typically in the form of grants, tax breaks, or low-interest loans. Subsidies aim to lower production costs for domestic industries, making them more competitive against foreign competitors.

4. Import licenses: Import licenses are permits required by the government for importing specific goods. By controlling the issuance of import licenses, governments can restrict the entry of foreign goods into the domestic market, protecting domestic industries.

5. Embargoes: Embargoes are complete bans on the import or export of certain goods or services. They are often imposed for political or security reasons, but can also be used as protectionist measures to shield domestic industries from foreign competition.

6. Domestic content requirements: Domestic content requirements mandate that a certain percentage of a product must be produced domestically in order to be sold in the domestic market. This measure aims to promote domestic production and employment by limiting the use of foreign inputs.

7. Currency manipulation: Currency manipulation involves artificially devaluing a country's currency to make its exports cheaper and more competitive in international markets. This protectionist measure can boost domestic industries by increasing their export competitiveness.

These protectionist measures are often implemented by governments to shield domestic industries from foreign competition, promote domestic production and employment, and safeguard national economic interests. However, they can also lead to trade tensions, reduced consumer choices, and higher prices for consumers.