Economic nationalism

Economic nationalism is a body of policies that emphasize domestic control of the economy, labor, and capital formation, even if this requires the imposition of tariffs and other restrictions on the movement of labor, goods and capital. In many cases, economic nationalists oppose globalization or at least question the benefits of unrestricted free trade. Economic nationalism may include such doctrines as protectionism and import substitution.

Governments have traditionally had a strong interest in preserving their economic, and therefore political, strength, and have therefore sought to use the tools at their disposal, particularly tax structure and discretionary spending, to stimulate economic growth. This was especially true when warfare was endemic in the early-modern period: a strong economy often meant the difference between political independence, and conquest by a foreign power. This resulted in the economic system generally known as mercantilism.

Nothing is better to increase and enrich the condition of our city than to give all liberty and occasion that commodities of our city be brought here and procured here rather than elsewhere, because this results in advantage both to the state and to private persons.

Examples of this include Henry Clay's American System, French Dirigisme, Japan's use of MITI to "pick winners and losers", Malaysia's imposition of currency controls in the wake of the 1997 currency crisis, China's controlled exchange of the yuan, Argentina's economic policy of tariffs and devaluation in the wake of the 2001 financial crisis and the United States' use of tariffs to protect domestic steel production.

...
Wikipedia