Dont fuses and circuit breakers protect against transients?
No. Over current protection devices such as fuses and circuit breakers (whether thermal or magnetic) respond to heat or currents caused by downline faults. These devices are too slow to react to transients because they are designed to protect again long term overvoltages and faults. If they reacted to every transient, no matter how minute, fuses would pop many times everyday. The only protection against transients is Transient Voltage Surge Suppression.