Protectionism refers to the economic policy or practice of shielding domestic industries or businesses from foreign competition by imposing restrictions, such as tariffs, quotas, or trade barriers. The aim is to safeguard domestic employment, industries, and the national economy.

Example
A government may implement protectionist measures, such as imposing high import tariffs on certain goods, to protect domestic industries from foreign competition. This policy aims to promote the growth of local industries, preserve jobs for domestic workers, and prevent the influx of cheaper foreign goods that could potentially harm domestic businesses.