import substitution

Definition

A method employed by a government to stimulate the economy by substituting domestic products for similar imported products. Import substitution may be encouraged through publicity campaigns, such as the "Buy American" campaign launched to decrease trade deficits in the United States, or enforced by means of tariffs and other trade barriers.

Use import substitution in a sentence

You may want to make an import substitution if you think that it will help you earn more money later.

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The import substitution idea was an excellent one that proved to be effective because consumers preferred to buy domestic when available.

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I began buying more American made good after a public campaign about import substitution, and I feel great about supporting our local workers and economy.

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