Main benefits or advantages of trade protectionism can be studied as follows:
1. To Protect Emerging Industries
Protectionism guards infant national industries from foreign firms. It is a defensive measure which helps the newly established domestic business to grow and well-flourished.
2. To Create Job Opportunity
Protectionism helps to create employment opportunities for local people. If local industries are well-flourished then job opportunities are created in the country.
3. To Prevent Dumping
Foreign producers export their goods at very low price and attract customers in order to capture the market. So, protectionism is useful to protect against dumping.
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4. Correction Of Balance Of Payment
Protectionism policy helps to correct balance of payment of the nation by discouraging importing and encouraging exports.
5. Preserving National Resources
Protectionism restricts the exports of national resources of the country. It helps to limit the over exhaustion of resources.
