| 单词 | protection |
| 释义 | protection 1) The use of trade policy to raise profits and employment in industries liable to competition from imports. Protection may be via tariffs, import quotas, or voluntary export restraints (VERs) and other non-tariff barriers to trade. Nominal protection is the proportional excess of domestic over foreign prices of imported goods. Effective protection for an industry is the proportional effect on value added in the industry of a tariff system which taxes both imports and imported inputs. See contingent protection, effective protection, and nominal protection. 2) Government policies aimed at safeguarding the interests of consumers, producers, or the environment. See agricultural protection, consumer protection. |
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