Question

Why do nations practice protectionism?

Answer 1

it increase the price of imports which helps prevent domestic industries because import become more expensive than locally produced product. So it help the economy to maintain their products

Answer 2

The protectionism adds a new kind of tax on the imports called Tariff. With the Tariff, the price of imports is increased, and becomes more expensive than locally produced products. This will protect the domestic economy.

Hope this Helps! :)