PROTECTIONISM
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Protectionism is the economic policy of supporting importers Protectionism is the economic policy of restraining trade between states in order to protect home producers Protectionism is the economic policy protecting the rights of consumers
Import quotas permit each American citizen to consume the equivalent of: only one teaspoon of foreign ice cream per year, two foreign peanuts per year, one pound of imported cheese per year, one teaspoon of imported butter.
Impact of a Tariff on Steel Price of Steel (US $ per kg) Quantity of Steel Bought and Sold from Abroad S D 20 S + Tariff 500 28 350
Impact of a Quota on Steel Price of Steel (US $ per Kg) Quantity of Steel Bought and Sold from Abroad S D 20 500 Pre-trade position before a quota. Quota level 250 30 The quota restricts the supply to a set amount (250 in the example) which is likely to result in a shortage of this good and a subsequent rise in its price.
Laws of Ukraine from 17.07.97 № 468/97-VR “About state regulation of agricultural imports” from 22.12.98 № 330-XIV “About the protection of national manufacturer against dumping imports”
№ 331-XIV “About the protection of domestic producers from subsidized imports” № 332-XIV “About the application of special measures for imports into Ukraine"
“Free trade is not based on utility but on justice” Edmand Burke (British statesman and philosopher) “The philosophy of protectionism is a philosophy of war” Ludwig Von Mises (German economist)
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