Assessment of UK Policies on Protectionism and Globalisation

Assessment Strategy

Table of Contents
Introduction......................................................................................................................................3
Main Body.......................................................................................................................................3
Tariffs and other trade barriers .......................................................................................................3
Free trade agreement..............................................................................................................3
Subsidies to UK businesses....................................................................................................4
Policies that give preferences to UK produced over foreign goods and services..................4
Policies that restrict Exports...................................................................................................4
Benefits of international trade................................................................................................5
Five Disadvantages of globalisation................................................................................................6
Globalisation....................................................................................................................................6
Unemployment:-.....................................................................................................................6
Growing Inequality:-..............................................................................................................6
Inflation:-................................................................................................................................7
Vulnerability to external economic shocks............................................................................7
Dominant global brands: .......................................................................................................7
Conclusion.......................................................................................................................................8
References .......................................................................................................................................9

Introduction
Protectionism derives the government policies which implied in the economy in order to
support the domestic industry by restricting the international trades. The main motive of adopting
these policies is to restrict the import to enhance the economic activity as well as could also
implied on regard to the safety concern. De-globalisation derives the movement in which an
economy are less connected with other nation due to their trade policies and decisions. In covid-
19 all the nation was disconnected due to the safety concerns. In regard to the above mentioned
concern the respected report will highlights the practises that adopted by the mentioned UK
policy maker in order to ensure it not happen again in the mentioned economy. Moreover, the
respected report will also derives the disadvantage of globalisation on the operations of UK firm
(Abban, Wu, and Mensah, 2020).
Main Body
Tariffs and other trade barriers
The policy maker plays one of the vital role in order to develop the business opportunity
in the economy. In addition to this through the adoption of effective trade policies protectionism
can be eliminated more effectively from the economy. In instance, the policy maker of UK has
performed the number of actions in their economy in order to remove the trade barriers
(Gunnella, and Quaglietti,2019).
Free trade agreement
After, the Brexit the mentioned country exits from the EU union. Hence, In order to
enhance the foreign investment and trade relation In the mentioned economy as well as influence
the relationship with other country the respected nation form the free trade agreements. The
covid-19 has raised the several issues in the economy such as increment in the unemployment
rate, collapse of businesses, increment in the national debt. Therefore, by deploying the
mentioned agreement in the economy can assist the respected nation to influence the MNCs in
their economy. By establishing the new business brings investment ans innovation which is must
needed in GDP growth. By making the deals and effective tariff plan that influence the foreign
trade. In regard to this the vat has been reduced by 5% in various goods such as home care
products, electric products etc. The standard VAT 20 % levied on all the aggregate value.
Therefore, by taking the mentioned practice the respected country is trying to encourage the