"Raise" can mean "end something" but it's one of the least common definitions that is figuratively based on the main definition:
1. Lift or move to a higher position or level.
1.2 Construct or build (a structure)
2. Increase the amount, level, or strength of.
The sentence means that America (or, at least, a certain American) has built a tariff wall to "protect" the country.
"From" is the correct preposition to use with "protect". For example:
She was determined to protect her children from the evils of junk food.
Note that definition 2 can cause someone to end something, because the resulting situation is unacceptable or unsupportable. For example:
My landlord raised my rent, so I can't live in my apartment anymore.
In a very limited context a country or military can "raise" something like a siege, or an embargo, but most of the time these use the verb "lift" instead.
The U.N. voted to temporarily lift the embargo of the embattled nation to allow shipments of food, clean water, and medical supplies.