Impact of Trade Protectionism on World Economic Growth

The paper discusses the major forms of protectionism, including tariffs, quotas, anti-dumping laws, and the deliberate manipulation of exchange rates. The purpose of this paper is to establish the benefits of tree trade, to examine the reasons and effect of protectionist policies, and to evaluate the rationale behind trade protectionism. The methodology used in this paper includes review of the literature and empirical studies published and descriptive statistical analysis of data published by international organizations. The paper also evaluates how the trade restrictions are harmful to the economies of the trading partners and challenges the popular rationale for protectionism.