The reasons for and consequences of protection.

The document discusses the reasons for and consequences of protectionism. It argues that protectionism is used to shield domestic infant industries, declining industries, and strategic industries from foreign competition. Protectionism is also used to raise employment and improve a country's trade position by protecting domestic industries from low-wage foreign competition and dumping. The document presents the perspective that countries implement protectionist policies and tariffs to protect certain domestic industries and sectors.