What is one of the main arguments in favor of protectionism?

One of the main arguments in favor of protectionism is that it helps to cultivate and protect emerging industries within a country. This approach is based on the idea that new or developing industries often struggle to compete against established foreign competitors due to differences in scale, access to capital, and experience. By implementing protectionist measures such as tariffs, quotas, or subsidies, a country can shield its nascent industries from foreign competition, allowing them the time and resources to grow and become competitive on a global scale.

Protectionism is often seen as a necessary step for economies transitioning towards more complex industries, where initial support can help foster innovation, job creation, and overall economic growth. This strategy can also help maintain national security, ensuring that critical industries are protected from foreign dominance. As these industries mature, they may eventually be able to compete effectively in the international marketplace without ongoing protection.