Question

What is the national interest argument for protectionism with regard to certain products?

Short answer

The interest of the country's argument for protectionism contends that importing some vital items is bad because the country may become vulnerable to a supply cutoff if it grows reliant on key imported sources.

Step-by-step solution

Protectionism

Protectionism refers to the policy of imposing trade regulations to protect the domestic industries and consumers. Different reasons such as national interest argument, infant industry argument, environmental protection argument, etc. are given by governments to impose trade regulations.

Explanation

The interest of the country's argument for protectionism contends that importing some vital items is bad because the country may become vulnerable to a supply cutoff if it grows reliant on key imported sources.