It can be complicated. Think, initially, protectionism will benefit almost everyone involved in the economy. But the effects will largely depend if the industri

It can be complicated. Think, initially, protectionism will benefit almost everyone involved in the economy. But the effects will largely depend if the industries (ie: individual companies) being protected are able to recover fast to catch up with foreign competitions. This is where trouble happens. For that, if these industries fail to compete, what they'll ask for is more "protectionism" and usually it's downhill from there. They'll become a tax on the broader economy; and the practice of protectionism will find grounds to spread to other sectors.