What is the term for the use of barriers to free trade, such as tariffs and quotas, to protect domestic producers?

The term used to describe the use of barriers to free trade, like tariffs and quotas, to shield domestic producers is protectionism. This approach is employed by governments to limit imports and maintain the competitiveness of local industries in the global market. By imposing tariffs (taxes on imports) or quotas (limits on the quantity of goods that can be imported), countries aim to reduce foreign competition, promote local employment, and preserve their economic interests.

In contrast, free trade refers to an international economic policy that allows goods and services to be traded across borders without restrictive regulations or tariffs. Globalization encompasses the broader economic, social, and political processes that promote interaction and integration among different countries, often facilitated by the reduction of trade barriers. Economic liberalization involves the removal of restrictions on trade and investment, fostering a more open and competitive economic environment. Therefore, protectionism is specifically focused on limiting external competition to protect domestic industries, making it the correct choice in this context.