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The image below is and image from the 1900s its a propaganda piece representing the ideals of protectionism, personifying the fears that many have towards free trade. It depicts the main advocates for free trade taking British money out of its economy and away from its industries and back to their own countries while the government remains unaware, leaving the country without anything. This sort of imagery is highly inflammatory and meant to rile people up against free trade in hopes to get them to support local economies even when its not the best decision economically.

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This well thought out video, provides an interesting and fairly unbiased comparison to both free trade and protectionism. it looks at the benefits and drawbacks of each and compares and contrasts to giving a fairly well though out answer to which is better. stating that free trade when properly implemented will always outperform protectionism. Moreover this video gives historical examples to support this ideal and even compares these ideals to what is happening in the modern world today.

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How to Enrich a Country: Free Trade or Protectionism?

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Website #3: GATT - The Canadian Encyclopedia

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Website #3: GATT - The Canadian Encyclopedia

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This website thoroughly explains the General Agreement on Tariffs (GATT) and its influence on Canada. It explains how the signing of GATT in 1947 by Canada and 47 other nations set the ground for free trade on a global scale by reducing tariffs on goods by up to 35%, this allowed free trade to flourish across the world and is responsible for the eventual creation of Canada's most import trade agreement NAFTA.

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The General Agreement on Tariffs and Trade (GATT) was an international trade agreement signed by 23 nations, including Canada, in 1947. GATT came into effect on 1 January 1948 and was refined over eight rounds of negotiations, leading to the creation of the World Trade Organization (WTO), which replaced GATT in 1995. GATT was focused on trade in goods and aimed to liberalize trade by reducing tariffs and removing quotas among member countries. Each member of GATT was expected to open its markets equally to other member nations, removing trade discrimination. The agreements negotiated through GATT reduced average tariffs on industrial goods from 40 per cent (1947) to less than 5 per cent (1993). It was an early step towards economic globalization.

Why Was GATT Created?

GATT was established in 1948 to regulate world trade. It was created as a means to boost economic recovery after the Second World War by reducing or eliminating trade tariffs, quotas and subsidies.

During the Great Depression, a breakdown of international relations and an increase in trade regulation made poor economic conditions worse and contributed to the outbreak of the Second World War. After the war, the Allies believed that a multilateral framework for world trade would loosen the protectionist policies that defined the 1930s and create an economic interdependency that would encourage partnership and reduce the risk of conflict. The idea was to establish a code of conduct that would progressively liberalize (remove or loosen restrictions on) international trade. Within this code of conduct, consultation on trade issues among member nations could take place and be resolved, and data on world trade characteristics and trends could be collected and shared.

Established over a year before the North Atlantic Treaty Organization (NATO), a Western military alliance, GATT played an important role in the Cold War, which began shortly after the Second World War. It helped the US-led capitalist West spread its influence by liberalizing trade through multilateral agreements. The West, with which Canada was aligned, gained more economic allies through these agreements, which strengthened its global influence in the face of the communist Eastern bloc led by the Soviet Union. After the Cold War, with the collapse of the Soviet Union in 1991, GATT transitioned into a truly global organization - the WTO - and admitted former communist bloc countries, such as Czech Republic, Poland and Romania.

GATT Negotiations

GATT was first discussed at the United Nations Conference on Trade and Employment in Havana, Cuba (1947), where the idea of creating the International Trade Organization (ITO) was proposed ( see United Nations). It was hoped that ITO would complement the World Bank and International Monetary Fund (IMF) in fostering international economic cooperation. While more than 50 nations were negotiating ITO and organizing its founding charter, preparatory sessions were held regarding GATT. After several sessions, Canada and 22 other nations signed GATT on 30 October 1947 in Geneva, Switzerland. The agreement came into effect on 1 January 1948. It was initially seen as a provisional agreement that would be superseded by ITO. After the United States backed away from ITO in 1950, the focus shifted to GATT ( see also Globalization).While regular trade negotiations were conducted and refined among member states on a regular basis, eight multilateral trade conferences (called rounds) were held between 1947 and 1994 ( see International Trade). GATT was established at the first round in 1947, with subsequent rounds hosted in Annecy, France (1949), and Torquay, England (1951). All other rounds were held in Geneva in 1956, 1960-62 (Dillon Round), 1964-67 (Kennedy Round), 1973-79 (Tokyo Round) and 1986-94 (Uruguay Round).

Bilateral Negotiations

To prepare for GATT, the 23 signing nations carried out negotiations among themselves to reduce some tariffs and other trade barriers. Canada negotiated bilaterally with seven of the countries. Its discussions with the United States were the most extensive of any that took place at that time. Canada had negotiated trade agreements with the US in 1935 and 1938, but once both nations signed GATT, it became the basic agreement governing trade relations between them, superseding the 1938 agreement ( see Canada-US Economic Relations). GATT rules required that any member country give all members the same privileges regarding tariffs and other commercial policy measures that it gives to the most favoured nation (MFN) with which it negotiates. This is known as the MFN principle, and it was established to remove trade discrimination.

Multilateral Trade Groups

Canada was part of several multilateral trading groups that operated in concert with GATT, including the Organisation for Economic Co-operation and Development (OECD), the Quadrilateral Group and the Cairns Group of Fair Trading Nations. Membership in these groups allowed Canada to influence the direction of trade negotiations.

The most influential group was the informal Quadrilateral Group, or the "Quad" as it was called, which surfaced early on in GATT's history. The group included Canada, Japan, the US and the European Union - the world's largest trade entities at the time. The Quad introduced most of GATT's reciprocal tariff cuts, which lowered rates among all GATT countries in accordance with the MFN principle. The Quad became a more formal alliance at the 1981 G7 summit in Montebello, Québec. It was most influential during the Uruguay Round, when it prioritized agricultural negotiations and pushed for the creation of the WTO.

Did Canada Receive Special Benefits?

Some exceptions to the MFN principle were permitted, and Canada was a beneficiary of several of them. The US received a waiver from the MFN rules to enter the Canada-US Automotive Products Agreement (Auto Pact) in 1965. Canada didn't need to get a waiver because it allowed firms from every country to participate, provided that they adhered to the rules. Like other developed countries, Canada also received waivers to grant tariff preferences to developing countries on a range of products under the Generalized System of Preferences. Canada was also a party to the Multifibre Arrangement (MFA), which allowed developed countries to impose quantitative import restrictions on textile imports from developing countries (the agreement was replaced by the WTO Agreement on Textiles and Clothing in 1995).

Finally, free trade arrangements among countries were allowed under GATT, opening the door to the Canada-US Free Trade Agreement in 1989 and the North American Free Trade Agreement (NAFTA) in 1994, among others.

Imports and Export Subsidies

Quantitative limits on imports and export subsidies were generally prohibited by GATT, but exceptions were permitted under certain circumstances. The two most important exceptions for Canada were the MFA and arrangements for agricultural products. The latter products were excluded from the trade liberalization framework of GATT, primarily due to US insistence. Canada and other major agricultural exporters vigorously objected ( see Agriculture and Food). Canada also objected to the special waiver that the US received in 1955 to enable it to restrict imports of dairy products, even though it had no domestic production controls. Subsequently, after much controversy, Germany and Switzerland got other waivers to restrict agricultural imports.

Canada, too, developed its own share of restrictions on imports of grains and dairy and poultry products, as well as export subsidies of some dairy products and eggs to dispose of surpluses. As a result, early exclusions and waivers from GATT produced a maze of restrictions on agricultural imports and export subsidies that have plagued world production and trade in these product lines ever since ( see Protectionism).

GATT also condemned the practice of dumping (selling products abroad for less than they are sold domestically). Anti-dumping duties could be applied to countries that engaged in these practices if material injury to domestic industry occurred or was threatened or if a domestic industry could not be established because of them.

Uruguay Round

The most important round of GATT negotiations was the Uruguay Round, which commenced in September 1986. It was concluded on 15 April 1994 after nearly eight years of negotiations and came into effect on 1 January 1995. The resulting comprehensive document included both major revisions to GATT as it existed after the previous seven rounds of negotiations and introduced a wide range of other agreements on two types of items: (1) matters not previously covered by regular GATT rules, such as trade-related investment measures, trade in services, intellectual property rights and agriculture, textiles and clothing; and, (2) issues addressed in an incomplete fashion in earlier negotiations, such as rules of origin, dumping, subsidies, safeguards and dispute settlement procedures.

By the end of the Uruguay Round, 128 nations were part of GATT.

Founding of the World Trade Organization

The agreement struck at the end of the Uruguay Round also established the World Trade Organization (WTO) as an administrative institution replacing or subsuming GATT and encompassing all of the agreements and arrangements concluded in the Uruguay Round. While GATT was formally concluded at the end of the Uruguay Round on 15 April 1994, with the WTO taking effect on 1 January 1995, GATT remained the WTO's umbrella treaty on trade in goods. Those nations wishing to be members of the WTO must first complete negotiations to become contracting members to GATT. As of July 2016, 164 countries were members of the WTO and 21 were observer governments (in the process of joining).

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General Agreement on Tariffs and Trade (GATT)

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The General Agreement on Tariffs and Trade (GATT) was an international trade agreement signed by 23 nations, including Canada, in 1947. GATT came into effect on 1 January 1948 and was refined over eight rounds of negotiations, leading to the creation of the World Trade Organization (WTO), which replaced GATT in 1995.

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This video provides and in-depth look at protectionism, looking at the way it revolves around tariffs to make a country stronger. it goes into depth first analyzing supply and demand on both a national and global scale, furthermore it does an amazing job explaining the terms that go along with it. Moreover it looks at the cost of protectionism in a society and how it can reduce or increase the welfare of a society

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We'll look at the costs and consequences of tariffs, quotas, and protectionism. How do tariffs affect consumers? What about producers? Who wins and who loses? Find out with this video. We'll apply the fundamentals we learned in the supply, demand, and equilibrium section of this course to real-world examples - like that of protectionism in the U.S.

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Website #2: Protectionism - Investopedia

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Website #2: Protectionism - Investopedia

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This article by Investopedia does a great job at explaining protectionism, how it is a government policy aimed towards protecting domestic businesses from foreign competition. Furthermore it makes it easy to understand by breaking up its components into easily understood components such as tariffs, government subsidies, and import quotas.

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What Is Protectionism?

Protectionism refers to government policies that restrict international trade to help domestic industries. Protectionist policies are usually implemented with the goal to improve economic activity within a domestic economy but can also be implemented for safety or quality concerns.

Understanding Protectionism

Protectionist policies are typically focused on imports but may also involve other aspects of international trade such as product standards and government subsidies. The merits of protectionism are the subject of fierce debate.

Critics argue that over the long term, protectionism often hurts the people and entities it is intended to protect by slowing economic growth and increasing price inflation, making free trade a better alternative. Proponents of protectionism argue that the policies can help to create domestic jobs, increase gross domestic product (GDP), and make a domestic economy more competitive globally.

Types of Protectionist Tools

Import tariffs are one of the top tools a government uses when seeking to enact protectionist policies. There are three main countervailing import tariff concepts that can be theorized for protective measures. In general, all forms of import tariffs are charged to the importing country and documented at government customs. Import tariffs raise the price of imports for a country.

Scientific tariffs are import tariffs imposed on an item-by-item basis, raising the price of goods for the importer and passing on higher prices to the end buyer. Peril point import tariffs are focused on a specific industry.

These tariffs involve the calculation of the levels at which point tariff decreases or increases would cause significant harm to an industry overall, potentially leading to the jeopardy of closure due to an inability to compete. Retaliatory tariffs are tariffs enacted primarily as a response to excessive duties being charged by trading partners.

Import Quotas

Import quotas are nontariff barriers that are put in place to limit the number of products that can be imported over a set period of time. The purpose of quotas is to limit the supply of specified products provided by an exporter to an importer. This is typically a less drastic action that has a marginal effect on prices and leads to higher demand for domestic businesses to cover the shortfall.

Quotas may also be put in place to prevent dumping, which occurs when foreign producers export products at prices lower than production costs. An embargo, in which the importation of designated products is completely prohibited, is the most severe type of quota.

Product Standards

Product safety and low-quality products or materials are typically top concerns when enacting product standards. Product standard protectionism can be a barrier that limits imports based on a country's internal controls.

Some countries may have lower regulatory standards in the areas of food preparation, intellectual property enforcement, or materials production. This can lead to a product standard requirement or a blockage of certain imports due to regulatory enforcement. Overall, restricting imports through the implementation of product standards can often lead to a higher volume of production domestically.

For one example, consider French cheeses made with raw instead of pasteurized milk, which must be aged at least 60 days prior to being imported to the U.S. Because the process for producing many French kinds of cheese often involves aging of 50 days or fewer, some of the most popular French cheeses are banned from the U.S., providing an advantage for U.S. producers.

Government Subsidies

Government subsidies can come in various forms. Generally, they may be direct or indirect. Direct subsidies provide businesses with cash payments. Indirect subsidies come in the form of special savings such as interest-free loans and tax breaks.

When exploring subsidies, government officials may choose to provide direct or indirect subsidies in the areas of production, employment, tax, property, and more.

When seeking to boost a country's balance of trade, a country might also choose to offer subsidies to businesses for exports. Export subsidies provide an incentive for domestic businesses to expand globally by increasing their exports internationally.

What Are Examples of Protectionism?

Is Protectionism Left-Wing or Right-Wing Politics?

What Are the Arguments for Protectionism?

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Protectionism: Examples and Types of Trade Protections

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Protectionism refers to government policies that restrict international trade to help domestic industries.

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Image #2: World Trade Organization and Free Trade

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Image #2: World Trade Organization and Free Trade

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The info-graphic below Focuses on China and its growth after it joined the WTO and embraced free trade in the 2001. if you look at it you can clearly see That it led to enormous growth causing it to go from the sixth largest economy to second largest in 10 years, as well and ballooning its GDP per capita by over $20,000.

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Video #1: The Realities of Free Trade Deals

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Video #1: The Realities of Free Trade Deals

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This video is a wealth of information, it provides great explanation as to why some people feel that free trade is not the best option. The creator of this video concisely explains the inequalities created by free trade and what must be done to fix them. he speaks about how for free trade to truly be accepted by everything the governments of the world need to ensure that the wealth gained from free trade. Although this video focuses on the U.S.A it can be applied to virtually any country today.

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Why has free trade become so unpopular? What should be done to make it acceptable again?

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Website #1: Free Trade - Encyclopedia Britannica

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Website #1: Free Trade - Encyclopedia Britannica

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What is free trade? This article by the Encyclopedia Britannica sums it up quite well. Free trade is a government policy where government does not discriminate against imports or exports. This allows buyers and sellers from different economies to do business without worry for tariffs, quotas, or subsidies. Free trade is the opposite of trade Protectionism.

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Table of Contents

This article was most recently revised and updated by

free trade, also called laissez-faire, a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports). A free-trade policy does not necessarily imply, however, that a country abandons all control and taxation of imports and exports.

The theoretical case for free trade is based on Adam Smith's argument that the division of labour among countries leads to specialization, greater efficiency, and higher aggregate production. ( See comparative advantage.) From the point of view of a single country there may be practical advantages in trade restriction, particularly if the country is the main buyer or seller of a commodity. In practice, however, the protection of local industries may prove advantageous only to a small minority of the population, and it could be disadvantageous to the rest.

Since the mid-20th century, nations have increasingly reduced tariff barriers and currency restrictions on international trade. Other barriers, however, that may be equally effective in hindering trade include import quotas, taxes, and diverse means of subsidizing domestic industries.

The Editors of Encyclopaedia Britannica Adam Augustyn.

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free trade, also called laissez-faire, a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports). A free-trade policy does not necessarily imply, however, that a country abandons all control and taxation of imports and exports.

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This graphic provides and excellent summation of all of canada's free trade agreements, moreover it does a nice job of showing countries that will soon have free trade agreements with Canada and naming several countries which canada is currently thinking about creating Trade agreements with

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Here on my padlet i will speak on Free Trade & Protectionism as well as outline sources on the subject looking at both the advantages and drawbacks of both systems