Protectionism is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. Protectionist policies help immune the producers, businesses, and workers of the import-competing sector in the country from foreign competitors.
Impact on India
Positive:
- India has gained window of opportunity to boost export of agricultural items to China.
- Diminished US-CHIna trade relation could have positive results from a trade prespective.
- It will provide India a platform to engage with countries, US and China and increase its presence in the region.
Negative
- It might lead to downslide of steel and aluminium industry owing to influx of steel and aluminium due to excess production.
- Higher tariffs would have major implications on India’s Banking system which is already crippled by Bad loans and recent scams.
- India will be impacted by the higher tariffs because India’s export 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z"/> Subscribe on YouTube