Trade Policy

Trade policy is how a country governs the flow of goods and services across its borders, using tariffs, quotas, trade agreements, export controls, and sanctions. Congress holds the constitutional power over trade and has delegated some of it to the president. The Commerce Department, the Office of the United States Trade Representative, Customs and Border Protection, and the courts all take part.

People usually bring questions about what tariffs are and who pays them, how tariffs differ from taxes, and where the money goes. They also ask how trade deals and most favored nation status work, what rules apply to exporters, what trade does to prices and jobs, and how courts review a president's trade powers.