protectionism

n. practice of guarding domestic industry from foreign competition by imposing taxes and tariffs on foreign imports (Economics)

For the protectionist Australian political party from the 1880s to 1909, see Protectionist Party Protectionism is the economic policy of restraining trade between nations, through methods such as tariffs on imported goods, restrictive quotas, a variety of restrictive government regulations designed to discourage imports, and anti-dumping laws in an attempt to protect domestic industries in a particular nation from foreign take-over or competition. This is closely aligned with anti-globalization, and contrasts with free trade, where no artificial barriers to entry are instituted.
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Noun
1. the policy of imposing duties or quotas on imports in order to protect home industries from overseas competition
(hypernym) economic policy
(hyponym) trade barrier, import barrier

(n.)
The doctrine or policy of protectionists. See Protection, 4.
  

Protecting domestic industry from import competition by means of tariffs, quotas, and other trade barriers.