Infant industry

[2] That is underscored by the fact that the original bastions of the infant industry argument argued that external benefits aside, it is undeniable that both the US and Britain rose to become relative superpowers in economic terms by following their approach for an extended period of time.

Among other measures, the nation ensured that competition was not allowed to import into their market especially when the destined goods were of superior quality.

As for the US, in 1789 one of the first acts of the US Congress was to impose tariffs on a variety of imports including cotton, leather, and various forms of clothing, in an effort to protect the American textile industry.

[3] Many mistakenly credit Friedrich List as the first individual to propose or set out an infant industry argument for the United States.

Basically, his arguments dictated that new or "infant" industries in the US could not become competitive with others in the international market unless the government offered them subsidies or allowances (often called bounties previously) at least for some initial time period.