What is your stance? Protectionism or Free Trade? Defend your position with practical examples.

Protectionism is an economic policy that inhibits the entry of products and services from foreign companies by imposing trade barriers. There are several arguments for protectionism including protection of infant industry, maintenance of employment/reduction of unemployment, conservation of natural resources, and national defense.
Milton Friedman, the late American Economist, was a staunch proponent of free trade policy (evident in this video clip and many others). What is your stance? Protectionism or Free Trade? Defend your position with practical examples.

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