Protectionism, not free trade, is the policy of protecting domestic industries from foreign competition.

Protectionism can be used to protect national security by ensuring that certain industries, such as those that produce military goods, are not dependent on foreign suppliers.

The United States has been a strong advocate for free trade since the end of World War II.

China has been a strong advocate for protectionism since the 1949 revolution.

A tariff is a tax on imported goods.

A quota is a limit on the quantity of imported goods.

An embargo is a complete ban on the import or export of goods.

A subsidy is a government payment to a domestic producer.

Improved national security is not a potential benefit of free trade.

Environmental degradation is not a potential cost of free trade.

Lower consumer prices is not a potential benefit of protectionism.

Increased innovation is not a potential cost of protectionism.

Tariffs are the most common form of protectionism.

The main goal of protectionism is to protect domestic industries from foreign competition.

The main goal of free trade is to promote economic efficiency.