What you’ll learn3 learning objectivesChoose one objective for a focused lesson, or study the complete topic.4.3.1Arguments for trade protection• Arguments include infant industries, national security, health and safety, environmental standards, anti-dumping, and unfair competition• Further arguments include balance of payments correction, government revenue, job protection, and ELDC diversificationSyllabus objective4.3.2Arguments against trade protection• Arguments include misallocation of resources, retaliation, increased costs, higher prices, and less choice• Trade protection can reduce efficiency incentives and export competitivenessSyllabus objective4.3.3Free trade versus protection• Free trade and protection should be evaluated using efficiency, equity, stakeholders, and long-run effects• Policy judgments depend on context and objectivesSyllabus objective