Economic nationalism

Economic nationalism is a doctrine that prioritizes national control of economic policy and domestic producers, often through trade barriers, industrial support, and limits on foreign ownership.

Protectionism: Trade policies that shield domestic producers from foreign competition, commonly through tariffs, quotas, or regulations. It is the central trade mechanism used to favor domestic industries.
Mercantilism: An early modern economic doctrine that treated national wealth as dependent on trade surpluses, state power, and control of commerce. It is a historical predecessor that linked economic strength to national power.
Free trade: A policy of minimizing government barriers to international trade in goods and services. It favors open exchange where economic nationalism may restrict imports to protect domestic producers.
Strategic trade policy: Government intervention in trade intended to strengthen domestic firms in industries with strategic advantages or national importance. It justifies targeted support where national capability or security is at stake.
Infant industry argument: The claim that temporary protection can help young domestic industries become competitive with established foreign producers. It supplies a common developmental justification for protection, while raising questions about when support should end.
Tariff: A tax imposed on imported goods, often to raise revenue or protect domestic producers. Tariffs make imported goods more expensive relative to locally produced alternatives.
Alexander Hamilton: An American statesman and the first secretary of the treasury of the United States. His 1791 manufacturing report made a prominent case for protective tariffs and industrial development.
Economic liberalism: An economic doctrine emphasizing markets, private property, and limited state direction of economic activity. It generally gives market coordination priority over national direction of production.
Economic security: The ability of a country to maintain essential economic functions and access to critical resources despite disruption or coercion. It connects domestic capacity and supply control to national resilience.
Smoot–Hawley Tariff Act: A 1930 United States law that sharply raised tariffs on many imported goods. It is a prominent case of protection provoking retaliation during economic crisis.

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