

Trading partners usually respond with their own tariffs, leading to "trade wars" .
Protects unproductive industries that might otherwise need to innovate to survive. Summary Review
These policies were most famous during the 1930s . Nations raised massive trade barriers to protect jobs, which eventually led to a collapse in global trade and worsened the global depression .
Trading partners usually respond with their own tariffs, leading to "trade wars" .
Protects unproductive industries that might otherwise need to innovate to survive. Summary Review
These policies were most famous during the 1930s . Nations raised massive trade barriers to protect jobs, which eventually led to a collapse in global trade and worsened the global depression .