Should Country Adopt Free Trade or Protection

Abstract

Abstract

The commercial policy which is highly important issue is in economics, The commercial policy is concerned with whether a country should Adopt the policy of free trade or protection which is faced other protection should be granted through imposing tariffs on imports or through the fixation of quota and licensing of imports .In what followed we spell out this free trade versus protection controversy. Beside Adam Smith the other classical economist Ricardo in famous work ?On the principle of political economy and taxation? By imposing heavy tariff duties on import so goods fixing quotas of imports or proving subsidies on their export they prevented free trade between countries. Keywords; Free trade, Tariff, Quota, Taxation, Duties, and Subsidies.