Why Protectionism Surges Amidst Global Uncertainty
Uncertainty—whether from financial crises, pandemics, geopolitical clashes, or sudden technological change—creates pressures that push governments and voters toward protectionist policies. Protectionism surfaces as a response to fear, political incentives, and strategic calculation. This article explains the forces that revive protectionism in bad times, illustrates them with historical and recent cases, examines economic mechanisms and consequences, and outlines policy options that can reduce the temptation to retreat behind trade barriers.Historical pattern and recent examplesProtectionism is far from a recent oddity. The 1930s Smoot-Hawley tariffs stand as a defining illustration: the United States boosted duties in a bid to protect local industries,…