Neo protectionism is associated to:
Non-Tariff Trade Barriers (NTBs) are trade barriers that restrict imports or exports of goods or services through mechanisms other than the simple imposition of tariffs. These barriers include- Import quotas, subsidies, customs delays, technical barriers, or other systems for preventing or impeding trade like import licensing, pre shipment inspections and rules for valuation of goods at customs. The term “neo-protectionism” has been recently making news due to emerging wave of neo-protectionism in USA. Recently, Indiana state has just cancelled a $ 15 million software contract awarded to Tata Constancy Services and shifted it to a local company to keep jobs in the state. Various curbs on outsourcing activities and visas for Indians are being considered in 9 other states. Imports quotas imposed on Chinese textile exports. The USA continues to subsidise its farmers, depressing the price of commodities for Third World exporter. This sudden change in American attitudes to trade may lead to trade restriction in world trade and impose serious threat to Indian economy.
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